Deadline Looms for Declaring Liquid Assets in Morocco: December 15 Final Date

This is the second time the authorities have extended the deadline set for the persons concerned to fall into line. This is a provision that has also been published in the official bulletin. Extended for the first time until August 31, due to the state of health emergency, the people concerned have more than three months to comply with this measure introduced in the amended finance law. And only professional income is covered by this regularization, reports challenge.ma.

For those wishing to regularize their tax situation, it is sufficient to pay a liberating contribution of 5% of the amount. As for the money to be deposited or already available at the bank, it will be subject to a flat-rate deduction of 5% of the amount. The same deduction will be made on movable or immovable property acquired by undeclared assets. In this case, it is up to the citizens to approach the tax authorities to fulfill this obligation, specifies the same source.