Access to housing: What the 2021 finance law provides
Among the sectors impacted by this health crisis is real estate. Stop of construction sites, postponement of acquisition projects, withdrawal … the sector was forced to take a forced break during the 3 months of confinement. The housing sector nonetheless managed to resume activity with positive performance recorded during the second half of 2020.
In order to put in place the prerequisites for a sustainable and integrated recovery, and this, in accordance with the High Guidelines of His Majesty the King, Mohammed VI, the 2021 finance law has introduced encouraging measures to facilitate on the one hand, the access to housing for various social groups and on the other hand to boost the real estate market.
In this regard, the finance law for the year 2021 provides for the extension of the reduction in registration fees for real estate purchases, introduced in the amending finance law for the year 2020 by 100% for deeds. bearing the first sale of social housing and housing with low real estate value, and 50% for deeds relating to the acquisition, for payment of empty land intended for the construction of housing or of premises built for residential use without the amount of the total tax base does not exceed four million (4,000,000) dirhams. These discounts will be valid until June 30, 2021.
The main objective of this measure is to lower the tax burden on buyers, in various segments and to increase the number of real estate transactions relating to the housing sector
In addition, and in order to diversify the housing supply and to support the trajectory of households and in particular young households, thus making it possible to target a new social fringe and allow them access to suitable housing, the finance law in The year 2021 validated the extension of the tax framework for OPCI real estate collective investment undertakings to also concern residential rentals (residential real estate). It should be noted that the specific tax regime applicable to OPCIs, in respect of their activities relating to the rental of premises built for professional use, was introduced by the 2017 finance law. The extension to the residential segment is an important step. for the residential rental segment aimed at boosting this activity and its professionalization.
On the other hand, and with a view to further developing the ecological transition and the use of green energies, the LF 2021 introduced an exemption from internal VAT without the right to deduct, photovoltaic panels and solar water heaters. . This measure aims to encourage the use of solar energy and will reduce the consumption of fossil fuels and greenhouse gas emissions.
Also and in order to encourage companies to make the transition to the professionalization of their activities, the LF 2021 provides for the exemption from income tax for all companies regardless of the date of their creation, on salaries paid for 36 months to young people under 35 as part of their first recruitment with an indefinite contract.
Also, the real estate sector is affected by other transversal fiscal measures adopted for the 2021 budget year, namely the implementation of the Unique Professional Contribution (CPU) which includes all taxes and duties, due by taxpayers for the exercise of their professional activity. Part of this contribution will be intended for the medical coverage of the taxpayers concerned. As well as the reduction of registration fees from 1% to 0.5% for all deeds of incorporation or capital increase of companies.
Source : Eco Actu
