MEASURES TAKEN TO ENCOURAGE INVESTMENT

1- TAX MEASURES * Exoneration from agriculture taxation (until the year 2020 ) * Exoneration from stamp duties of purchase deeds for lands earmarked for investment projects. * Tax exoneration of the agricultural sector, which benefits as well from important duty and tax discounts due upon importation of certain products and equipment to be used in the agricultural sector limited between 2,5% and 10% ad valorem duties ,(Dahir creating law n° 1-84-46 du 21/3/1984 ) . - Exoneration from VAT inside Morocco and on importing equipment, materials and tools - Special advantages are granted to products' exporting companies as to tax on companies (IS) and general income tax (IGR). The above advantages may be extended to total exoneration for the first five years and a 50 % discount of the above taxes beyond that period, to the proportion of the turnover on exportation 2-GUARANTEES FOR INVESTMENTS Morocco concluded many agreements with many countries in order to guarantee foreign investments against all risks of nationalization and expropriation . In addition, and in order to avoid double taxation, other agreements have been equally signed with many other countries. 3- ESTATE RENT AND PURCHASE Any Moroccan or non-Moroccan individual or legal entities may conclude rent contracts related to farmlands and may acquire lands for industrial use .As a guide only, the rent of farmland varies from 1000 to 3000 Dh / ha / year according to the quality of the soil, the water resources , the remoteness etc ... - Registration: The stamp duties are fixed at 0,5% of the purchase value of the farmland - Long lease: Fees to pay are: -Fixed fees: 75 dh. · Stamp duties : 1% of the rent value of the land. 4/ CREDITS : Interest rates applied by the Caisse Régionale du Crédit Agricole of Marrakech are as follows: * Short term and mid-term credits : 11% par an * long term credits : 12% par an.(for a period of more than 7 years ) With exoneration from VAT , registration fees and mortgage inscription duties. 5-Financial aids The government grants financial aids to farmers for acquiring production needs and equipment, for developing their farms , cattle raising, and making laboratory analyses ( water, soil and plants ). Cliquer ici 6-CONDITIONS TO BENEFIT FROM INVESTMENT GRANTS. - The grants distribution is made by the Caisse Nationale du Crédit Agricole(CNCA) within the framework of the fund for agricultural development. The new dispositions for aids granted allotted to investment have become effective starting from July 1999 and are valid for a period of five years. - The applications are deposited directly with the CNCA or with the Caisses Régionales du Crédit Agricole in two original copies against receipt of acknowledgement. - the application dossier consists of the following documents : 1- Application for a grant on investment in a special form supplied by CRCA 2- Copy of authorization supplied by the Office de Développement de la Coopération (ODECO) for the cooperatives. 3- Copy of the company articles (statutes) . 4-Bills. 5- Data sheet of the equipment bought , to be produced by the seller and signed by buyer and seller. 6- A commitment in which the investor undertakes to exploit the project for a minimum period of five years starting from the date on which he has received the grant.

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