Morocco reforms its tax system

(PresseBox) ( Berlin, )
2020 started with a tax reform in Morocco. This should bring additional foreign investors into the country and create more transparency.

The 2020 Moroccan tax reform is distinguished by three main priorities:
  • continued support for social policies and reduction of social and territorial disparities
  • establishment of social protection mechanisms
  • confidence building and a new investment dynamic in addition to business support measures
The main changes introduced by the tax reform are:
  • Abolition of the five-year exemption for new exporting companies.
  • Companies established in industrial acceleration zones as well as service companies with "Casablanca Finance City" status will be taxed at the uniform rate of 15%, beyond the five-year exemption period.
  • Incorporated sports companies will benefit from the five-year exemption, from the first operating year.
  • Farms with a turnover of more than MAD 5,000,000 (MAD=Moroccan dirham. 100 dirham are the equivalent of around 10.5 USD, as of 2 March 2020), companies carrying out offshore activities, as well as sports companies benefit permanently from the marginal rate of 20% for the portion of net profit which exceeds MAD 1,000,000.
  • A new corporate tax scale is introduced.
The higher rate of 31% is, however, reduced to 28% for companies exercising an industrial activity, excluding those whose net profit is equal to or greater than MAD 100,000,000.
  • The minimum contribution rate is set at 0.50%. However, this rate shall be increased to 0,60%, where, beyond the exemption period, current profit excluding depreciation is declared negative by the business for two consecutive financial years.
  • Measures relating to the voluntary regularisation of the taxpayer’s tax situation (unreported cash) and to the spontaneous regularisation of assets and liquids held abroad.
  • The administration may exchange information with foreign tax administrations under international conventions or agreements.
For further information please contact:

Nassim Karim, CPA – Certified Public Accountant (AE), Managing Partner, ECOVIS Morocco, Casablanca, Morocco, www.ecovis.com
Für die oben stehenden Pressemitteilungen, das angezeigte Event bzw. das Stellenangebot sowie für das angezeigte Bild- und Tonmaterial ist allein der jeweils angegebene Herausgeber (siehe Firmeninfo bei Klick auf Bild/Meldungstitel oder Firmeninfo rechte Spalte) verantwortlich. Dieser ist in der Regel auch Urheber der Pressetexte sowie der angehängten Bild-, Ton- und Informationsmaterialien.
Die Nutzung von hier veröffentlichten Informationen zur Eigeninformation und redaktionellen Weiterverarbeitung ist in der Regel kostenfrei. Bitte klären Sie vor einer Weiterverwendung urheberrechtliche Fragen mit dem angegebenen Herausgeber. Bei Veröffentlichung senden Sie bitte ein Belegexemplar an service@pressebox.de.