Viewpoint:Abdelmejid Faiz The year 2019 was marked by the organisation of the country’s third national tax conference. The objective of this forum was to launch a genuine reform of the Moroccan tax system, the implementation of which could be spread over a maximum period of five to 10 years. It should be recalled that the last major tax reform in Morocco dates back to the mid-1980s and early-1990s,…
Finance Law No. 70-19 (FL 2020), relating to FY 2020, was enacted by Dahir No. 1-19-125 on December 13, 2019 and published in Official Gazette No. 6838 bis on December 14, 2019. The provisions of the new finance law should be read in conjunction with the recommendations from the national tax conference that took place in May 2019, as well as the conclusions made by the European Commission that…
Morocco is often described as the gateway to Africa, an apt description given its proximity to Europe and its geographic location at the north-eastern tip of the continent. At its narrowest, the Strait of Gibraltar separates Point Cires in Morocco from Point Marroquí in Spain by 13 km. The country is neighboured by Algeria to the east and Mauritania to the south. At home, Morocco has identified
In conjunction with Ernst & Young, this chapter explores the taxation system and Morroco’s efforts to build an investor-friendly environment. It also contains an interview with Abdelmejid Faiz, Tax Partner, EY Maroc.…
In English Suite à la tenue d’assises nationales de la fiscalité, une série de mesures ont été proposées, avec pour objectif une amélioration de l’environnement fiscal au Maroc. Les troisièmes Assises Nationales de la Fiscalité se sont déroulées le 3 et 4 mai derniers à Skhirat, au sud-est de Rabat, sous le thème «Equité Fiscale.» Visant à poser les bases d’un…
Interview:Abdelmejid Faiz What is your assessment of the fiscal environment? ABDELMEJID FAIZ: Morocco gradually reduced its nominal tax rate in the 2000s, while also introducing a series of exemptions for several sectors. Concurrent to these incentives, the administration embarked on a process of modernisation and dematerialisation of almost all administrative procedures. As a result, the quality…
The 2019 Finance Law was published in the Official Bulletin No. 6736 bis on December 21, 2018, and promulgated by Dahir (royal decree) No. 1-18-104 of December 20, 2018. The law introduces a number of tax developments, including changes to income tax for corporations and self-employed individuals, real estate investment and tax incentives for offshore companies. Corporate Income Tax The 2019…
Written in conjunction with Ernst & Young, this chapter explores the taxation system and Morroco’s efforts to build an investor-friendly environment. It also contains an interview with Abdelmejid Faiz, Tax Partner, EY Maroc.…
The current king, Mohammed VI, came to power in 1999 and is the third monarch to rule Morocco since it gained its independence from France in 1956. King Mohammed VI instituted a number of liberalising reforms when he succeeded his father, King Hassan II, who ruled from 1961. He put in place further reforms in 2011 against a backdrop of regional unrest and domestic political protest. The country ha
In conjunction with KPMG, this chapter contains an introduction to Morocco’s taxation system, including a breakdown of rates imposed on corporate income, regulations governing capital gains and double taxation, and a list of goods and services exempted from value-added tax. This chapter contains a viewpoint from Fouad Lahgazi, Senior Partner, KPMG.…
