Chairman of the National Federation of Insurance Agents and Brokers in Morocco (FNACAM)
What is new in relation to the PLF 2023 measure on withholding tax?
The work is carried out by CGEM, of which our association is a part. Discussions took place last Monday in the second chamber of the Danish Parliament. Amendments will be made in that direction. We hope that this provision does not come into place, because it does not play a role in the development of our activity. I fully understand that DGI is trying to identify players who do not disclose their turnover, but ours is disclosed by the insurance companies. We are transparent. So logic dictates that this restraint should not be applied to our profession. We even call on CGEM to abolish it outright, not just for intermediaries, of course. I can say that the public authorities are listening. As you know, there is also a parliamentary process to follow in this regard, with amendments to be accepted or not. That said, I remain optimistic.
As for the issue of VAT among insurance intermediaries, this topic will be addressed next year. What are your complaints?
We have a tax which is imposed on our turnover and which should not take place. Because there is already a tax on the insurance premium. We call this an “in the tax” tax, which is not necessary as it penalizes us. We are not asking for exemption, but rather for the abolition of this tax, which we consider completely unjustified.
Do insurance agents and brokers want to diversify their business?
We are trying to obtain authorization to carry out activities that go beyond the simple offering and sale of insurance products.
You indicated that FNACAM needs more legitimacy, explain this need to us.
As the only association approved by ACAPS, we want insurance brokers to join an association. Today, FNACAM is the sector’s interlocutor with the companies and the regulator. We therefore believe that all operators of the profession should gather within it. It will thus have greater proposal strength and will also be able to put pressure on the companies when necessary.
Sanae Raqui / ECO Inspirations