Morocco mulls new tax on wealthy for social fund

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Morocco could introduce a special tax on wealthy citizens to help finance a new “social solidarity” fund, said a government spokesman.

That would make Morocco less reliant on its existing state subsidies fund, spokesman Khalid Naciri said, adding that the step was necessary given the rise in public sector wages and state recruitment of thousands of jobless graduates this year.
“We have to figure out how to fund it … The goal is to alleviate the burden on the (state’s subsidies) Compensation Fund,” he told reporters in Rabat, Reuters reports.
“We have not made a final decision on imposing a tax on the wealthy … But it is among several options that are being examined.”



The government plans to offer 48 billion dirhams ($6 billion) in food and energy subsidies in 2011, up from an originally budgeted 17 billion dirhams.