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• Morocco Unveils Tax Amnesty Plan to Boost Economy and Repatriate Foreign Funds
  21 October 2019, by Kamal

  As part of the 2020 Finance Bill, a new provision proposed by the Government provides for an amnesty for holders of funds abroad. This measure will allow a GDP growth rate of 3.7% and reduce the budget deficit to 3.5%.
  The new incentive measure, which aims to reduce capital flight and repatriate funds deposited abroad, will be effective from January 1 to October 31, 2020, and will allow a 5% tax amnesty, in case of deposit of 75% of foreign currency funds and 25% in Moroccan dirhams.
  A (…)

• Qatar Airways in Talks to Acquire Stake in Royal Air Maroc
  6 February 2020, by Bladi.net

  The airline, Qatar Airways, is reportedly in full negotiations to acquire a stake in Royal Air Maroc (RAM).
  After the strategic commercial partnership agreement signed in May 2015 between the two companies, which allows an extension of the networks of the two operators to Africa and Asia, Qatar Airways is currently in talks to take a more or less significant stake in the capital of the Moroccan airline.
  According to internal sources of the group, the negotiations are continuing so that (…)

• Moroccan Elite Funnel Millions into Spanish Banks, Sparking Capital Flight Concerns
  17 May 2019, by Kamal

  Spain has become a paradise for some Moroccan officials and businessmen in search of niches to transfer their money. Despite the measures put in place by the Foreign Exchange Office and the Ministry of Finance, the accumulated capital in Spanish banks has increased by 21% between mid-2017 and January 2019.
  According to the report of a Spanish association, cited by Al Massae, the cities of southern Spain hold the lion’s share in the flight of capital from Morocco. The authors of these (…)

• Spanish Investors Eye Morocco as Government Eases Entry for Foreign Professionals
  10 September 2020, by Jérôme

  Spanish investors are preparing to seize the opportunities offered by the Moroccan market. This is thanks to the recent decision by the government to ease the conditions for foreign professionals to access the national territory.
  According to Les Inspirations Eco, the trigger was the decision of the Moroccan government to allow access to the national territory for foreign entrepreneurs and professionals, at the invitation of Moroccan companies. It is welcome for Spanish organizations, (…)

• Moroccan Dirham Gains Against Euro, Slips Versus Dollar Amid Economic Shifts
  14 September 2020, by Jérôme

  The dirham appreciated by 0.67% against the euro and depreciated by 0.21% against the dollar during the period from September 3 to 9, 2020. This is indicated by data from Bank Al-Maghrib (BAM).
  According to the Treasury General of the Kingdom, the public finances show at the end of August 2020 a decrease in ordinary revenues of 0.1% against an increase in ordinary expenditures of 2.3%. It thus generates a negative ordinary balance of 2.5 billion DH.
  Tax revenues have experienced (…)

• Morocco’s Business Leaders Warn Against New Lockdown, Urge Economic Support
  2 October 2020, by Jérôme

  Going to a new lockdown at this time of resurgence of the crisis is not feasible. This would be dramatic for the Moroccan economy, stresses Chakib Alj, president of the CGEM, who insists on prevention to avoid this catastrophic scenario.
  Thus, the confederation calls for "freeing" the economy so that it can restart as best as possible. It proposes in particular the acceleration of sectoral and support measures for all sectors in difficulty. Demand, the main driver of growth, should also (…)

• Morocco Launches Foreign Asset Disclosure Program for 2020
  3 January 2020, by Bladi.net

  From January 1 to October 31, 2020, the Office des changes will carry out the Voluntary Disclosure Operation (ORS). This is the main information provided last Tuesday by the institution in a press release.
  According to the press release, the ORS, established by Article 8 of Finance Act No. 70-19 for the 2020 fiscal year, concerns individuals or legal entities who have a tax residence, registered office or tax domicile in Morocco, who have constituted assets and liquidity abroad before (…)

• Morocco Considers Tax Amnesty to Boost Foreign Exchange Reserves
  4 May 2020, by Kamal

  With the decline in foreign exchange, the Moroccan government could consider a new form of tax amnesty, allowing the repatriation of a maximum of capital held abroad.
  According to the daily Al Massae, the Executive would opt for this solution in order to avoid resorting to borrowing and replenish the foreign exchange reserves, which are suffering from the fall of its main providers.
  If the post-state of emergency augurs catastrophic scenarios for the Moroccan economy, the new provision, (…)

• Moroccan Businesses Face Bankruptcy Surge as Courts Resume Full Operations
  31 August 2020, by Jérôme

  At the Commercial Court of Casablanca, bankruptcy cases are on the rise and a sharp increase in the number of companies closing down due to lack of resources is expected starting in September. The balance sheet could be very heavy towards the end of the third quarter when the judicial system resumes full activity.
  Between January and June, 2,554 court-ordered liquidations were pronounced against 4,111 over the same period last year. After a 14% increase in bankruptcies in January, the (…)

• Morocco to Develop Three New Industrial Parks with US Funding
  3 September 2020, by Jérôme

  Morocco will soon have three new industrial parks. Located in Had Soualem, Bouznika and Sahel Lakhyayta, they will be financed by the Millennium Challenge Corporation (MCC).
  The MCA-Morocco Agency has already launched a call for partnership for the development, development and management of these parks, which total 140 hectares. The interest is to attract investments and create qualified job opportunities in the industrial sector. Interested companies have until September 17 to submit (…)