Despite a growing arsenal and over 21 million bank cards in circulation, the Moroccan economy remains fundamentally attached to cash. For the majority of citizens, the card serves primarily to withdraw money.
The Office des Changes intensifies its fight against capital flight . More than 80 notifications have been sent to taxpayers suspected of illegally holding assets abroad, identified through the automatic exchange of information with Europe.
Major real estate developers have resumed cash payments in commercial transactions related to the sale and acquisition of real estate in Tangier, after the relaxation of the strict measures that had accompanied the tax amnesty.
A wind of concern is blowing on the bank branches of Tangier. An unprecedented phenomenon is taking place there: entrepreneurs and merchants, who usually queue to deposit their receipts, are now keeping a low profile.
In Morocco, the tax amnesty on undeclared assets for the year 2024 allows the regularization of a record amount of 125 billion DH.
While the tax amnesty aimed at regularizing undeclared liquid assets has resulted in an injection of 60 billion dirhams into the Moroccan banking system, the structural challenges related to banking liquidity persist.
The tax amnesty on undeclared assets for the year 2024 in Morocco has exceeded all expectations. The Minister Delegate to the Parliament, Mustapha Baitas, announced a collected amount of 127 billion dirhams, shattering the initial forecasts.
Moroccan taxpayers wishing to bring their declared income into compliance have only a few days left to file their requests for regularization.
The countdown has begun for taxpayers wishing to benefit from the total cancellation of fines, penalties, surcharges and collection costs related to the principal of taxes, duties and levies, which were subject to collection before January 1, 2020, and remained unpaid as of December 31, 2020. June 30, at midnight, is the deadline.
Oxfam Morocco is preparing to launch an analytical study on the relevance and incentive value of tax expenditures that benefit three key sectors of the Moroccan economy annually: real estate, agriculture and private education.
Assets and holdings held abroad amounted to 2.3 billion DH as of December 23, according to the Foreign Exchange Office , which had forecast 4 to 5 billion DH.
The restaurateurs of Agadir, who had pinned all their hopes on the end-of-year festivities to replenish their empty coffers, no longer know which way to turn. The restrictive measures decided by the government have come to deliver the coup de grace.