Exporters Demand Enhanced Fiscal Visibility in Morocco's 2027 Finance Bill

Priorities for Fiscal Reform Outlined by ASMEX

In a significant gathering organized by the Moroccan Association of Exporters (ASMEX) during the "Export Mornings" event, key representatives from the export sector have articulated four critical fiscal priorities that they urge the government to consider in the upcoming 2027 Finance Bill (PLF). Among these demands, they emphasize the need for a mandatory timeline for the reimbursement of VAT credits, a reduction in administrative tax obligations, an established framework for first-time exporters, and a carbon pricing mechanism that aligns with the European Carbon Border Adjustment Mechanism (CBAM).

Addressing VAT Concerns and Administrative Burdens

Foremost among the issues raised is the challenge posed by VAT. Exporting companies are exempt from VAT on sales to foreign markets; however, they still incur this tax on their purchases and inputs, resulting in a structural credit situation with the state. The ASMEX advocates for the implementation of a fixed reimbursement deadline from the administration, beyond which interest on late payments would accrue. This measure aims to enhance financial visibility for businesses and allow for quicker reinvestment of funds that are currently tied up in VAT credits.

Furthermore, exporters are requesting a reduction in the administrative load stemming from tax obligations introduced in recent years, specifically pointing to the withholding tax that has increased the workload for accounting teams. ASMEX argues that the digitization of the tax administration should go hand-in-hand with simplifying procedures rather than adding new reporting obligations that complicate compliance.

Another significant request is the establishment of a tailored system for first-time exporters, who often face substantial cash flow challenges when entering international markets. The goal is to ease access for small and medium-sized enterprises (SMEs) to foreign markets, thereby broadening Morocco's export base.

Finally, ASMEX urges the government to proactively consider the implications of carbon pricing on the competitiveness of exporters. Given that 71.4% of Moroccan exports were directed to the European Union in 2024, there is a pressing need for any forthcoming carbon pricing framework in Morocco to be developed in concert with the European CBAM. This coordination is crucial to prevent a scenario where the same product incurs dual carbon charges upon entering the European market.

To support its advocacy for the PLF 2027, ASMEX plans to gather quantitative data from exporters concerning the amounts of immobilized VAT credits and the actual delays experienced in their reimbursement. The overarching aim is to reshape fiscal policy into a competitive advantage rather than an obstacle to export growth.

As reported by fr.le360.ma.