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Major taxes provisions included in the Financial Law of 2008 Convertir en PDF Version imprimable Suggérer par mail

 

The state budget for 2008 contains several tax measures, some of it are eagerly awaited by the world of business. This is the case of redevelopment in the rate of corporate taxes (IS) which rose from 35% to 30%. The (SI) of banks will also be reduced to 37% against 39.6% at present. This reduction is related to credit establishments but also Bank Al-Maghrib, the CDG and insurance and reinsurance companies.

The outline of the Financial Law of 2008

The Financial Law 2008, which expects a growth rate of 6.8%, is the establishment of conditions for a successful integration of the national economy in its environment to transform Morocco into a 'platform of investment and exports.

The Financial Law of 2008 also provides several new taxes measures and customs. They are mainly:

Measures relating to corporate tax (IS)


 
  • Reducing the rate of 35% to 30%
  • Reducing the rate applicable to the financial sector at 37%.
  • Applying a reduction of 100% of the foreign source dividends received by resident companies.
  • Establishment of a preferential treatment on stock assessment for the merging.

Measures relating to income tax (IR):

 
  • Taxation 15% of the taxation of profits from securities with real estate profits.
Measures concerning VAT:  
  • Harmonization of operations that its rate credit leases to 20%.
  •   Harmonization of operations rate of construction work by applying 20% instead of 14%.
  • Reduction of repayment to 3 months to replace the suspension system.
  • Maintaining the exemption for the benefit of social housing.
  • Reduction of 45% to 40% of the import duty for industrial products