Morocco Scraps VAT on Some Agricultural Inputs to Tame Inflation

Morocco’s government will exempt imported cattle and some agricultural inputs, such as pesticides, from a value-added tax as the kingdom looks to curb inflation, the state-run MAP news agency reports, citing Prime Minister Aziz Akhannouch.

• Move to scrap VAT will “protect the national market and ensure a good supply in basic materials” after successive years of drought that hit the key agriculture sector
• Govt needs to restore balance to farming production chain and seeks to use “tracking mechanisms” to strike a balance between exports and supply the national market
• Domestic sugar beet farmers to get “additional subsidies” to improve yields ...