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,
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