Tuesday, January 1, 2019

Financement and tax benefits granted by the National Unemployment Insurance Fund CNAC2

1. For candidates:
- Qualified persons may initiate their projects individually or collectively,
- The project initiated collectively shall be the subject of only one loan,
- Provide financial contribution to the owner or the entrepreneurs in cash or in kind,
- In case of creating a collective institution, the latter includes a path and partners,
- The partners must meet the same conditions for qualifying the path.
2- For the project:
- Only finance the production of goods and services.
- The loan mostly covers the acquisition of equipment.
- The choice of activity is based on valuing the experience of the owner or the entrepreneurs as well as the investment opportunities available in the local market.
Proposed Funding Format:
Extraordinary funding:

Level 1: The cost of investment is less than or equal to five (5) million dinars.
Bank loan
Interest-free loan granted by the National Unemployment Insurance Fund
  Personal Contribution

Second level: the cost of investment exceeds five (5) million dinars and less or equal ten (10) million dinars :
Bank loan
Interest-free loan granted by the National Unemployment Insurance Fund
  Personal Contribution

- There are other types of interest-free loans called additional can also be given to the youth contractor when necessary (trilateral financing), and only in the stage of construction, as per:

A) An additional interest-free loan of 500,000 DH is compensable for the acquisition of mobile workshops (intended for holders of vocational training certificates) for activities such as electricity, buildings, heating, cooling, glass, building fat,
B) An additional interest-free loan of AED 500,000 is compensable for the rental of shops intended for planned activities, with the exception of (non-residential activities or collective offices).
C) An additional interest-free loan, which can be up to USD 1,000,000, is compensable for the holders of higher education certificates to cover the rental of shops intended for the creation of collective offices for the practice of activities related to medical fields, legal assistants, accounting experts, accountants, certified accountants and studies and follow-up offices.
• Reduction of bank interest rate (100%).

-    Note:
The additional exempted loans granted shall be borne by the State budget.
These three additional interest-free loans are non-accumulative and are granted only at the stage of activity creation.
Expansion investment:
The young person who establishes his micro-institution through the National Unemployment Insurance Agency, to enable them to expand their productive capacity in the same activity or in a secondary activity.
  What are the qualification requirements for expansion?
- To benefit from the expansion of the micro-enterprise, the young contractor must have the following conditions:
- Payment of the bank loan at the limit of at least 70% if the amount required by the same bank.
- The total payment of the bank loan in case of changing the bank or the financing formula, from the trio to the duo,
- Payment within 70% of the interest-free loan in case of bilateral financing,
- Regular repayment of unpaid loan benefits,
- Permit to be present for three (3) years of exploitation (in normal areas) and six (6) years (in special areas)
- The availability of tax revenues that show the positive development of the micro-enterprise.
What funding formats are proposed under the expansion?
Funding formulas are similar to those found in the initial construction, structure or body and cost.
What benefits and privileges are granted?
The same subsidies and tax concessions as the establishment of a microenterprise are applied to the expansion of production capacity, except for the three additional subsidies: collective offices, rent and mobile workshops.
- Privileges granted:
A) During the stage of completion of the investment:
- Exemption from the transfer of commercial ownership of the acquired properties in the framework of the establishment of an industrial activity.
- Exemption from registration rights in respect of corporate contracts.
B) During the period of exploitation:
Tax concessions are granted to micro-enterprises for a period of three (30) years from the start of the activity.
- Exemption from the real estate tax on construction and additional construction for a period of "3 years, 6 years or 10 years" depending on the location of the project, from the date of completion.
- Full exemption from the single tax, for a period of "3 years, 6 years or 10 years" depending on the location of the project, from the date of exploitation.
- 5 ٪ for activities producing and selling properties, and 12 ٪ for other activities.
When at least three (3) business establishments are engaged in an indefinite period of time, the exemption period shall be extended by two (2) years.
- Exemption from the guarantee of good implementation when the subject of the micro-institution to restore cultural facilities.
- Exemption from the real estate tax on construction and additional construction extends to 10 years if that activity in the south, and 6 years for activities in the high plateaus.
However, investors - natural persons subject to the single taxable tax - remain liable to pay the minimum tax equivalent to 50% of the amount stipulated in the Direct Tax Act, estimated at 10,000 dinars, for each fiscal year, regardless of the number of works investigated.
• A 100% reduction in the debit rate applied by banks and financial institutions under the title of investments carried out in all sectors of activity.
* Benefit from the reduction of the single tax payable at the end of the phase of exemption, during the first three "3" years of tax:
- 70% for the first year of taxation
- 50% for the second year of taxation
- 25% for the third year of taxation



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