Architects Secure Major Tax Breaks in Deal with Moroccan Tax Authority

According to L’Économiste, the terms of this agreement provide for major tax advantages. "Amounts well below what they should be paying," the newspaper assures, specifying that "the minimum to be paid varies between 5,000 dirhams (2016 to 2018) for a turnover of less than 360,000 dirhams and 120,000 dirhams per year, beyond 10 million dirhams".

To recall, this contract covers income tax (professional and salaried income), corporate tax and VAT for the 2016 to 2018 fiscal years. It also covers entities subject to corporate tax for fiscal years closed between 2016 and 2018. The architects concerned are those working as individuals or within a company. L’Économiste specifies that architects who have been the subject of the corrective declaration procedure, provided for in Article 221 bis-III of the CGI, are eligible for voluntary regularization.

As for VAT, "the regularization will consist of paying the difference between the VAT to be paid and that already paid. This amount must not be less than 0.5% of the turnover." Given that voluntary regularization results in the payment of additional income tax, corporate tax or VAT by December 31, 2018, any VAT deficit or credit must be absorbed. The impact on the 2019 fiscal year must also be corrected, reports the media.

Furthermore, subscribing to the corrective declaration does not exclude the possibility of opting for the other regularization channels provided for by the finance law.