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30,000. 20,000. 10,000. 0. Bond loans. Commercial paper. Interest on loans granted by direct shareholders is deductible if the capital is fully paid in, limited to the to be exempted from personal income tax on gross monthly salary income capped at MAD 10,000.

120,000. 150,000 dec nov oct sep aug jul jun may apr mar feb jan. 0. 50. 100 lateral term loan with Swedish Export Credit.
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100,000. 80,000. 60,000.

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