Morocco’s tax revenues continued their upward trajectory in 2023, with both gross and net tax revenues exceeding expectations, according to the latest report issued by the General Directorate of Taxes.
Gross tax revenues reached MAD 209.32 billion, a 6.7% increase from the previous year, while net tax revenues rose by 7% to MAD 190.67 billion.
91.1%, were paid remotely, highlighting the country’s progress in digitalizing tax services, while tax targets set up by the Finance Bill reached 105.9%.
Corporate tax contributed the most to Morocco’s tax revenues in 2023, increasing by 1.6% to MAD 67.27 billion. Income tax also grew by 6.2% to MAD 54.33 billion.
Registration and stamp duties increased by 9.3% to MAD 24.1 billion.
VAT revenues experienced the most substantial increase, rising by 11.4% to exceed MAD 51 billion. This marked the highest growth rate among all tax categories.
The General Directorate of Taxes attributed the strong tax revenue performance to measures to improve voluntary compliance and strengthen enforcement. Notification, monitoring, and collection operations were enhanced to ensure the tax system’s integrity.
The Directorate intensified monitoring operations to uncover tax violations, using document auditing and on-site inspections. These efforts resulted in additional revenues of MAD 14 billion.
Tax returns, deductions, and refunds increased by 3.7% to MAD 18.3 billion in 2023, majority of which (MAD 16.3 billion) was related to VAT refunds.
The Directorate’s five-year plan emphasizes improving tax control through measures like predictive control, information exchange, and artificial intelligence. This strategic focus aims to enhance tax system integrity and deter non-compliance.
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