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Morocco
Overview
Last reviewed - 04 April 2023The Kingdom of Morocco, a country located in the Maghreb region of North Africa, has a population of nearly 33 million and an area of 710,850 square kilometres. Morocco is a constitutional monarchy with an elected parliament. The political capital is Rabat, and the largest city is Casablanca; other large cities include Marrakesh, Tetouan, Tangier, Salé, Fes, Agadir, Meknes, and Oujda. The official language of Morocco is Arabic, and its currency is the Moroccan dirham (MAD).
Morocco is a young and dynamic country that has attracted increasingly more investments since the privatisation programme started in 1993 and due to the liberalisation of its markets.
Foreign investments in Morocco have expanded from the traditional domains of textiles, fishing, and agriculture to those presenting greater added value, such as energy, infrastructure, transport, telecommunications, financial services, and others.
The European Union (EU) is Morocco’s primary trading partner, providing 65% of Morocco’s imports and receiving 70% of Morocco’s exports.
PwC in Morocco offers a large range of expertise in order to support our clients in the different stages of their development and investments in Morocco.
At PwC Morocco, we strive to provide quality service to each client as we help develop solutions to their individual challenges. For your investment projects in Morocco, our team in PwC Morocco can offer you a large range of services along with the necessary cultural insight and a complete understanding of the regulatory aspects.
Our range of services covers:
- Audit and Assurance.
- Tax and Legal services.
- Consulting.
- Deals.
Quick rates and dates
| Corporate income tax (CIT) rates | |
|---|---|
| Headline CIT rate (%) |
The 2023 finance bill fixed the applicable CIT rates as follows: 20% for companies with a net tax income lower than MAD 100 million. 35% for companies with a net tax income equal to or higher than MAD 100 million (subject to some exceptions). Still, the target rates of 20% and 35% rates would not be applicable until January 2026. As such, CIT rates will progressively evolve. For FY23, the CIT rate applicable to companies with a net taxable income higher than MAD 100 million is 32% |
| Corporate income tax (CIT) due dates | |
|---|---|
| CIT return due date |
Within three months following the closing of the fiscal year. |
| CIT final payment due date |
Within three months following the closing of the fiscal year. |
| CIT estimated payment due dates |
Payment of tax is made during the fiscal year by way of four equal instalments. |
| Personal income tax (PIT) rates | |
|---|---|
| Headline PIT rate (%) |
38 |
| Personal income tax (PIT) due dates | |
|---|---|
| PIT return due date |
28 February |
| PIT final payment due date |
NP |
| PIT estimated payment due dates |
NP |
| Value-added tax (VAT) rates | |
|---|---|
| Standard VAT rate (%) |
20 |
| Withholding tax (WHT) rates | |
|---|---|
| WHT rates (%) (Dividends/Interest/Royalties) |
Resident: NA; Non-resident: 13,5/10/10 |
| Capital gains tax (CGT) rates | |
|---|---|
| Headline corporate capital gains tax rate (%) |
Capital gains are subject to the normal CIT rate. |
| Headline individual capital gains tax rate (%) |
20 |
| Net wealth/worth tax rates | |
|---|---|
| Headline net wealth/worth tax rate (%) |
NP |
| Inheritance and gift tax rates | |
|---|---|
| Headline inheritance tax rate (%) |
NP |
| Headline gift tax rate (%) |
NP |
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