📋 Tender Overview
The House of Representatives Commitee on Finance and Economic Development lower house adopted the first part of the 2020 Finance Bill by majority vote on Tuesday evening.The text was endorsed by 24 deputies while 13 others opposed it. A total of 270 amendments were tabled by the majority and opposition parliamentary groups with the executive interacting positively with several proposals.The parliamentary committee reviewed the project for two weeks and set last Friday as the date for the presentation of amendments.The 2020 Finance Bill proposes a series of measures to encourage investment in particular the downward revision of corporate income tax CIT from 31 to 28 and the gradual decline in the minimum contributon rate from 0.75 to 0.50. It also aims to support citizens purchasing power by earmarking a 26 billion dirham budget and subsidizing basic necessities under the Compensation Fund 14.6 billion dirhams.In addition an amount of 91 billion dirhams is allocated to national education vocational training higher education and health sectors.
