Govt. Exempts Agricultural Products from VAT

The government council agreed, on Thursday, to exempt agricultural products and goods from value-added tax (VAT), said government spokesperson Mustapha Baitas.
This step was taken to address the skyrocketing prices of foodstuffs and similar commodities, and to ensure that the national market is supplied with such products, added Baitas during the weekly press briefing.
Food prices increased in Moroccan markets due to rainfall scarcity, global shortages and supply difficulties.
Morocco has decided to allocate subsidies to farmers to improve yields and secure the local supply of sugar beet while ensuring that this is in line with the royal instructions and the recommendations of the new development model.