The payment deadline between companies in Morocco saw a clear improvement for the third and fourth quarters of 2023, according to the first assessment of the new financial sanctions system established by Law No. 69-21 relating to deadlines. of payment.
Presented during the sixth meeting of the Observatory of Payment Deadlines, held Tuesday in Rabat, this first assessment shows “broad compliance” with the requirements of this mechanism with 4,769 declarations made by the subject population for T3- 2023 and Q4-2023, indicates a joint press release from the Ministry of Economy and Finance and the General Confederation of Moroccan Enterprises (CGEM).
“These results augur strong prospects for continuing to act in depth on the business environment and the release of entrepreneurial energies,” continues the same source.
Co-chaired by the Minister of Economy and Finance, Nadia Fettah, and the President of the CGEM, Chakib Alj, this meeting is part of the High Royal Guidelines set out in the Speech of August 20, 2018, at the on the occasion of the 65th anniversary of the Revolution of the King and the People calling on public administrations and local authorities in particular to pay their dues to businesses, because any delay in payment can lead to cases of bankruptcy and, correlatively, numerous losses of jobs, reports MAP.
The purpose of this meeting was to take stock of the implementation of the new financial sanctions system established by Law No. 69-21 amending Law No. 15-95 forming the commercial code and enacting specific provisions relating to Payment period. The progress of the implementation of this mechanism, which entered into force on July 1, 2023, was presented by the Directorate General of Taxes.
At the same time, the Observatory has given its approval to finalize and publish its fourth annual report, which will include the progress of the implementation of the above-mentioned system and the lessons learned from it, the press release said. This meeting took place in the presence of members of the Observatory reporting to the CGEM, the Ministry of Industry and Commerce, Bank Al-Maghrib, the Professional Group of Banks of Morocco (GPBM), the General Treasury of the Kingdom (TGR) and the Directorate of Public Enterprises and Privatization (DEPP).
