A large French group could leave France for Morocco

Threatened by a new tax, the French maritime transport giant CMA-CGM plans to relocate part of its activities to Morocco. This decision could have serious consequences for employment in France.

The French government plans to introduce an “exceptional contribution” which would only affect CMA CGM. This tax, estimated at 500 million euros the first year then 300 million the second, aims to tax “large maritime transport companies” with more than a billion euros in turnover. CMA CGM, which made a record profit of 23.4 billion euros in 2022, is the only French company affected by this measure.