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Weekly highlights

State-Owned Enterprises: The reform’s small steps

S TATE-Owned Enterprises electricity, drinking water, and liquid
sanitation will be the responsibility of
(SOEs) should make invest-
dedicated entities: the regional multi-
ments of 140.5 billion MAD
and pay 16.4 billion MAD in terms service companies (SRM). Currently,
of dividends and contributions to the “consultations are underway, with a
general budget. SOEs undeniably re- view to carrying out support measures
main a driver of investment but they for ONEE”.
should quickly overcome the struc-
tural dysfunctions they have dragged - ONDA: Towards a subsidiariza-
on for several years. This is also the tion of major airports? Navigation,
goal of framework law 50-21 rela- regulation, airport, and security mana-
ting to the reform of SOEs. For the gement… A whole thinking process is
time being, progress has been made being conducted to provide the airport
in terms of the preparation of appli- sector with an effective model. Work
cation texts, the operationalization of is underway to transform the National
the National Agency for the Strategic Airports Office (ONDA) into a public
Management of State Participations limited company. This will strengthen
and the carrying out of restructuring (Ph. L’Economiste) its management autonomy. The spin-
operations. These are part of an ove- mentation of development projects products, the losses could peak at off of major airports and the injection
rall vision spanning 5 years. Accor- launched by the various sectors. 24.14 billion MAD. This establish- of funds to finance investments are also
ding to the Ministry of Finance, “the ment, which received Government on the menu. That said, with the re-
year 2022 saw the targeting of a num- - Energy: Regional multi-service aid, should be restructured. The goal sumption of air traffic, ONDA expects
ber of sectors deemed to be priorities companies in the field of dis- is to strengthen its financial base in a turnover of 3.5 billion MAD this year.
such as energy, transport and logis- tribution: Last April, the National the face of soaring fuel prices and in Its forecast net result would be negative
tics as well as certain high-stakes sec- Office for Electricity and Drinking the face of the increase in its financing at 22 million MAD. The Office also
tors”. The adopted approach is “col- Water (ONEE) sounded the alarm needs for production activities. ONEE plans to end the year with an invest-
lective and partnership-based” to deal on the financial risks facing the rise will also have to withdraw from the ment of 2.1 billion MAD and expects
within a planned framework with the in the price of raw materials. Without distribution business and refocus on to invest 1.9 billion next year. o
issues and risks that thwart the imple- subsidies for the purchase of energy its core business. The distribution of Khadija MASMOUDI

DBB 2023: Liberal professions rebel

L AWYERS, architects, nota- fit from a right to restitution. Why so
ries, chartered accountants,
many complaints about this measure?
and adouls (religious/court
notaries) are determined to block a It is because it relates to the turnover
and not the margin, specify experts.
tax measure provided for in the Draft This should weigh heavily on the
Budget Bill (DBB). This is the man- cash flow of the taxpayers concerned,
datory withholding tax of 20% on the especially in these times when there is
fees paid to the concerned liberal pro- strong tension on the business and the
fessions by their clients, natural and extension of deadlines. “This mea-
legal persons, under public or private sure would put the majority of service
law. The national council of the Pro- providers in cessation of payment,
fessional organization of chartered ac- most of whose turnover is absorbed
countants held a meeting with the Bar by salaries, including that of the com-
Association on Sunday, October 30, (Ph. Bziouat) pany manager, rents and other opera-
in Casablanca. After discussion about ting expenses”, warns an accountant.
the controversial tax provision, the of the regional tax authorities’ offices, tory withholding tax targets all ser- Deputies have already been made
two entities spoke with the presidents said the people in charge. Sporadic vice providers registered for business aware of the implications of the sys-
of the organizations representing the strikes should also take place like tax, legal or natural persons, keeping tem device. According to one adviser,
architects, the notaries, as well as the the one that lawyers in the Tangiers accounts and receiving fees, commis- this provision would only encourage
adouls who expressed their will to region were planning to organize on sions or brokerage and any other cate- undeclared benefits to evade taxes.
contribute to the creation at the natio- Tuesday, November 01, accompanied gory of similar remuneration. Each And to add that the high rate of the
nal level of a coordination to form by a demonstration from 11 a.m. to customer keeping accounts will the- withholding tax would generate a
common front against the measure noon within the premises of the Court refore have to deduct 20% from each large flow of refund requests that the
provided for in the draft budget bill. of Appeal. The mandatory withhol- invoice. The amount of the withhol- tax administration could not process
The professional organizations have ding tax on fees paid to the liberal ding tax will have to be charged to the within a reasonable time. This would
already agreed on an action plan to professions, with the exception of income tax or to the corporate tax for aggravate the cash flow difficulties of
counter the withholding tax on fees. doctors, is the main measure which the year. In the event of overpayment, businesses. o
Joint sit-ins were to be held in front has thus aroused anger. This manda- the taxpayer concerned would bene- Hassan EL ARIF
Friday 4 November 2022