Despite themselves, SMEs and VSEs have turned into banks; the latter suffering the most from excessively long payment periods. Inter-company credit weighs 420 billion dirhams against 404 billion for bank loans to private non-financial companies. Although it recognizes the interest of the current reform for the economy, the Competition Council criticizes the coercive device in one of its opinions.
At the end of February 2022, outstanding bank credit to private non-financial companies totaled MAD 404 billion. Besides, inter-company credit amounts to 420 billion DH. Despite themselves, SMEs and VSEs have turned into banks, with the latter suffering the most from excessively long payment terms.
While previous law reforms have not changed the problem – on the contrary, it has worsened – the authorities hope to obtain better results with the new adjustments proposed. One of the main contributions is the introduction of pecuniary sanctions against bad payers.
Failure to comply with the legal payment deadlines is punishable by a pecuniary fine corresponding to 3% of the amount of the invoice excluding VAT (unpaid) for the first month of delay, increased by 1% per month or fraction of month of delay. additional.
The fine is payable voluntarily by the debtors who must pay it when filing the declarations with the tax administration services. Although it recognizes the interest of this reform for the economy, the Competition Council criticizes the coercive device in one of its opinions.
“While the text provides for penalties for delay, it does not envisage, in parallel, any mechanism of protection for the party victim of the unpaid debt, injured in the case to, possibly, repair the damage which it would have suffered in terms of recovery costs and additional costs related to late payment”, notes the Competition Council.
In addition, the device raises competitive risks, he notes. These experts find the method of calculating the financial fine inconsistent. The fine is calculated per month of delay while the payment deadlines are defined in number of days.
On the other hand, the fines in the event of failure or delay in declaring the status of unpaid or late paid invoices are fixed in absolute value and by turnover brackets by the draft law. “The segmentation by slice of the turnover amounts to treating in the same way and indifferently different infringements.
Then, because a fine in absolute value and not in percentage is incompatible with the principle of proportionality”. Regarding the fixed fine of 5,000 DH per invoice in the event of an incomplete or insufficient declaration, Ahmed Rahhou’s teams believe that this approach is disproportionate for invoices with small amounts and will even be discriminatory for small and medium-sized companies, since the penalty will apply without distinction to all invoices regardless of their amounts.
Frank Fagnon / ECO Inspirations