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Morocco - Tax on banking: A study is needed faisabilté (Nizar Baraka)
Release Date : 2012-11-21
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The Minister of Economy and Finance Nizar Baraka, said on Tuesday in Rabat, the government must, before considering the application of the tax on fortunes to study its feasibility and effectiveness, and see if it does not lead to adverse effects on capital (capital flight), and hence investment.
 
"It is not a question of courage, but to see if this is suitable for our company," Baraka insisted at the Forum of the MAP, organized around the project of the Finance Act 2013 .
 
He noted, in this regard, before application of any provision of tax on wealth, "we must first study the foreign experiences, which have shown that several countries have decided to abolish it, as it can prejudice the productive investment of capital. "
 
In this context, the Minister noted that the government's objective is to encourage capital and increase the productivity of investment, redirecting the productive sectors, including industry.
 
Baraka has also cited the example of taxpayer owns a valuable property but does not hold back. The taxpayer "will be forced to pay an annual tax on the property without having the means to cope," which could be an obstacle to the introduction of such a tax, he said.
 
The issue of tax on fortunes of great interest to the Moroccan population, and supplies several political and academic debates about its feasibility and scope socioeconomic
 
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