Rabat, Morocco (TMT)- The Moroccan government is on the verge of launching a promotional campaign to promote “Tahfiz,” an employment initiative that aims at curbing growing unemployment rate numbers in the kingdom, improving business competitiveness, and fostering the integration of the informal sector in the country.
Newly established companies and associations subscribing to the “Tahfiz” initiative will be exempted from the Income Tax (known under the French acronym IR) of the gross monthly salary, with a cap at DH 10.000.
Not only that, but the government will also be paying the employer’s share in regards to the CNSS contribution (contribution to the national pension system) and vocational training tax.
Any company and association subscribing to the aforementioned initiative can have up to five employees registered for “Tahfiz.” Companies subscribing to “Tahfiz” have the right to pick the employees they deem fit for the aforementioned advantages.
The Moroccan government said that the “Tahfiz” program will end in December 2019.
The program is administered by Anapec, the National Agency for the Promotion of Employment and Skills.
The Moroccan Times.
