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Morocco Corporate - Tax credits and incentives

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The Moroccan tax law provides several tax incentives for specific sectors of activities.

Export companies

Export companies are exempt from CIT on their profits related to their export turnover during the first five years following their first export transaction. These companies benefit from a reduced CIT rate of 17.5% in subsequent years.

Hotel companies

Hotel companies are fully exempt from CIT on their profits relating to foreign currency turnover for the first five years following their first accommodation operation in foreign currency. They also benefit from a reduced CIT rate of 17.5% on such profits for subsequent years.

Mining companies

Exporting mining companies, including those that sell products to export companies, benefit from a reduced CIT rate of 17.5%.

Agricultural companies

Small-scale companies

Agricultural companies with a turnover of less than MAD 5 million qualify for a total exemption of CIT. If such companies realise a turnover that exceeds MAD 5 million in year (n), they become liable to CIT in year (n), year (n+1), year (n+2), and year (n+3).

Moreover, such companies qualify for a reduced rate of 17.5% during the first five fiscal years following the first year during which they become liable to CIT.

Medium and large-scale companies

Finance Law 2014 provides for a progressive approach to tax medium and large-scale agricultural companies that realise a turnover exceeding MAD 5 million. As such, companies with a turnover exceeding MAD 35 million, MAD 20 million, or MAD 10 million should become liable to CIT, respectively, in 2016, 2018, and 2020.

Moreover, such companies qualify for a reduced rate of 17.5% during the first five fiscal years following the first year during which they become liable to CIT.

Capital risk companies

Capital risk companies are exempt from CIT on profits derived within the scope of their activities (these are profits related to purchases of companies’ shares that support such companies’ development and the sales of such shares thereafter).

Hydrocarbon companies

Companies holding hydrocarbon exploration and exploitation permits are exempt from CIT for ten years from the beginning of hydrocarbon regular production.

Banks and holding companies located in offshore zones

Banks and holding companies located in offshore zones benefit from a reduction in CIT for the first 15 years of operation.

Banks may opt for a minimum CIT of 25,000 United States dollars (USD) or pay the tax at a reduced rate of 10%.

Holding companies pay a flat tax of USD 500 during the first 15 years.

Casablanca Finance City

A law was enacted in 2010 for the setting up of a finance area in Casablanca, called, Casablanca Finance City.

The Casablanca Finance City statute may be granted to specific financial institutions as well as non-financial institutions that offer such services as auditing, fiscal, legal, financial, actuarial, and human resources management advisory.

The above statute may also be granted to regional and international headquarters.

Entities established in Casablanca Finance City are exempt, for their export turnover, from CIT during the first five years following the date they obtain the Casablanca Finance City statute. These companies benefit, for the export turnover, from a reduced rate of 8.75% in subsequent years.

Free trade zones (FTZs)

The activities that must be necessarily performed by the companies established in the FTZs are mainly the following (the activities may vary for each FTZ):

  • Food processing industries.
  • Textile and leather industries.
  • Metallurgic, mechanic, electric, and electronic industries.
  • Chemical and special chemical industries.
  • Services connected with the aforementioned activities.

Entities established in FTZs are exempt, for their export turnover, from CIT during the first five years. These companies benefit, for the export turnover, from a reduced CIT rate of 8.75% for the following 20 years.

Moreover, for entities established in FTZs, the dividends paid to non-residents relating to activities performed in the FTZ are totally exempted from the WHT on dividends.

Listed shares

Non-resident entities are exempt from capital gains derived from the sale of stocks listed on the Casablanca stock exchange, excluding the shares of real estate entities.

Foreign tax credit

Income tax paid on income earned from outside Morocco may be credited against CIT payable in Morocco if provided by treaty.


Last Reviewed - 20 September 2018

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