In recognition of the Kingdom’s efforts in terms of financial reforms and fiscal governance, the member States of the European Union (EU) have decided to permanently remove Morocco from the “grey list” of taxation.
For the EU, Morocco now complies with all international tax standards that allow it to be included in the restricted club of countries that have demonstrated a positive evolution of their tax laws and practices.
“Since 2018, Morocco has been engaged in actions to ensure that its tax system complies with the global principles of transparency and fair taxation, as enshrined in the EU list criteria,” a European Union spokesman said in an exclusive statement to MAP.
He recalled that “the Moroccan authorities have recently introduced reforms that modify the tax regime of Casablanca Finance City to bring it in line with the principles of fair tax competition”.
“Following a positive assessment of this reform by the OECD,” explained the spokesman, member States have decided to remove Morocco from Annex II (countries and territories that do not yet comply with all international tax standards).
Morocco has corrected two preferential tax regimes, namely those of export processing zones and export companies through the 2020 appropriation bill.
Regarding the Casablanca Finance City (CFC) tax regime, Morocco has also adopted a new law governing the activities of the City with a view to enhancing the transparency and nature of the activities carried out, and improving its attractiveness, particularly for companies eligible to obtain the status specific to the Casablanca financial center.
add your comment
Terms of publication : Not to offend the writer, people, sacred things, or attack religions or the divine self, and refrain from racist incitement and insults.