HomeEconomyHere's what to expect in 2022

Here’s what to expect in 2022

The 2022 finance law comes into force this Saturday, January 1, 2022. This law, which has seen several amendments within the hemicycle, outlines what will be our fiscal year, the sectors that will experience a decrease and a increase in taxes and the like.

The good news for this year 2022 concerns employees. The new 2022 finance law abolished the social solidarity contribution for professional income. That said, this contribution remains valid for companies operating in industrial acceleration zones and service companies benefiting from the special tax system at the Casablanca financial center (Casablanca Finance City), in particular national companies.

For new recruitments, the 2022 Finance Law provides for the renewal of the income tax exemption (IR) on the salaries of new employees recruited on permanent contracts, for the first 36 months of the contract. A measure that aims to encourage businesses and companies to recruit more.

Other professionals will also benefit from a tax deduction, such as athletes. The 2022 finance law provides for a 90% flat-rate abatement on salaries paid to professional athletes, coaches, technical teams and educators holding a professional sports contract and a license issued by the competent federations. It should be noted that this tax deduction was of the order of 50% in the 2021 finance law.

Tax increases on several products

While employees and individuals have benefited from certain tax advantages, other products have experienced significant increases. The first concerns manufactured tobacco produced in Morocco, which experienced an increase in ICT from this Saturday, January 1.

Since international brands were spared by this increase, the members of the tobacco product price approval committee validated new increases on brands of manufactured tobacco made in Morocco, ranging from 2 to 4 dhs per packet.

Other products will experience higher prices from this Saturday. These are electronic devices and household appliances. Thus, smartphones will experience an internal consumption tax (TIC) of 30 dhs per unit, while laptops and desktops (with screens) will experience a tax increase of 50 DHS per unit, tablets (30 dhs the unit), screens for computers (20 dhs), while televisions of 32 inches and more will experience a taxation of 100 dhs per unit. This, as part of the strengthening of energy efficiency in the Kingdom.




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