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Morocco’s Minister of Economy and Finance, Nadia Fettah Alaoui, presented the main outlines of the new draft finance law.
Among the measures included in the draft law is a tax exemption related to olive oil imports.
As an exception to the provisions of the import duty tariff, the draft provides for the suspension of import duties on certain types of olive oil until December 31, 2025.
The measure would apply to virgin olive oil and extra virgin olive oil within a quota of 20,000 tonnes.
If approved by Parliament, the law would allow olive oil to be imported without additional duties.
This could encourage companies and individuals to import larger quantities of olive oil, potentially helping reduce selling prices in Morocco, especially as drought has affected domestic production.