The Foreign Exchange Office tracks down 45 million kept outside Morocco

The investigations concern export operations and investments made abroad over the past three years. They were launched after discrepancies were discovered between the revenues generated and the amounts declared in Morocco.

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Inspectors are examining accounts, bank transfers, commercial contracts and declarations submitted to the authorities. In particular, they are seeking to establish whether some revenues may have been directed to accounts or companies established abroad in order to evade repatriation rules.

According to Hespress, the initial evidence gathered has strengthened the suspicions surrounding several cases. Some exporters and investors are said to have used shell companies and complex financial structures to artificially reduce the revenues declared in Morocco.

45 million dirhams kept outside Morocco?

The amount of profits that may not have been repatriated is provisionally estimated at 45 million dirhams. This estimate could still change, as digital analysis tools have made it possible to identify other unusual financial movements.

The individuals concerned have received requests for explanations and must now provide documents justifying the discrepancies found. This stage will make it possible to distinguish simple accounting errors from possible violations of foreign exchange rules.

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The Foreign Exchange Office is also cross-referencing its data with that of the Directorate General of Taxes (DGI), the Customs Administration and foreign authorities. The checks also cover the facilities granted to Moroccan investors to transfer funds outside the country, in order to verify that they have not been misused to keep capital abroad.