19 Hrs
Source:
الصحيفة
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Source: الصحيفة
19 Hrsالصحيفة
Source: الصحيفة
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MPs from the Justice and Development Party, the Popular Movement and the Federation of the Democratic Left voted against raising the tax on fuel companies’ profits from 35 to 40 percent. The increase would apply to 11 companies with annual net profits of 100 million dirhams or more. The Popular Movement justified its opposition by warning that companies might pass the cost on to consumers by raising fuel prices. The left, meanwhile, said the proposed rate was insufficient and called for a tax of up to 45 percent, along with broader reforms. The Justice and Development Party did not explain its opposition, despite having previously called for higher taxes on large companies. Economy and Finance Minister Fouzi Lekjaa stressed that the measure targets profits and is not directly linked to fuel prices. The debate therefore remains over the consistency of the parties’ positions and how best to protect consumers’ purchasing power.
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