Morocco
Morocco's Budget Deficit Narrows to 3.6% of GDP in 2019, VAT Arrears Remain High
The budget deficit recorded, at the end of December 2019, 41.7 billion dirhams, the same amount as the VAT payment arrears.
Topic
General Treasury of the Kingdom
Morocco
Morocco Refunds 10 Billion Dirhams in VAT as Budget Deficit Widens
In Morocco, nearly 10 billion DH of VAT were refunded in 2019. Meanwhile, the budget deficit continues to widen.
Morocco
Morocco's Economy Set to Grow 3.9% by 2021, AfDB Report Forecasts
Morocco’s real GDP growth is expected to reach 3.7% in 2020 and 3.9% from 2021.
Morocco
Morocco's Treasury Launches Digital Document Service for Faster, Easier Access
The General Treasury of the Kingdom has decided to facilitate the task for its users and partners by now providing remote delivery of several documents and certificates.
Morocco
Morocco's Budget Deficit Shrinks by 1.5 Billion Dirhams in November 2019
The budget deficit recorded at the end of November 2019 is 39.6 billion dirhams (MMDH) compared to 41.1 MMDH in November 2018. This is revealed by the statement of Treasury charges and resources (SCRT), prepared by the Ministry of Economy, Finance and Administration Reform.
Morocco
Morocco Introduces New Fines to Address Soaring Unpaid Check Incidents
The General Treasury of the Kingdom has introduced a liberatory contribution on pecuniary penalties related to payment incidents. This novelty is part of an amendment to the 2020 Finance Act.
Morocco
Morocco Eases Bank Ban Penalties: New Bill Caps Fines, Reduces Tax Rates
It will now be possible to lift the banking ban, thanks to the new bill proposed by the [General Treasury of the Kingdom]. Regardless of the number of bounced checks issued, the tax penalty has been reduced to a flat rate of 1.5%.
Morocco
Morocco's Budget Deficit Soars to 32.3 Billion Dirhams in September 2019
The budget deficit recorded a sharp increase at the end of September 2019, reaching 32.3 billion DH against 26.3 billion in 2018, according to data from the Treasury General of the Kingdom (TGR).
Morocco
Morocco Tax Authority Cracks Down on Post-Dated Checks, Ending Debt Staggering Practice
All guarantee checks deposited with the services of the General Treasury of the Kingdom (TGR) will be presented for collection. In case of non-payment, taxpayers will be granted five days to regularize their situation, failing which the check will be presented for protest.
Morocco
Morocco's Budget Deficit Narrows as Tax Revenue Rises, Treasury Reports
According to the General Treasury of the Kingdom (TGR), the situation of the Treasury’s charges and resources shows a budget deficit of 14.1 billion dirhams (MMDH). This is down compared to last year’s data, which showed 15 MMDH for the same period.
Morocco
Morocco Launches Tax Probe into Unexplained Wealth of Officials' Mistresses
A vast operation has been carried out by the financial control services in order to audit the assets belonging to mistresses of senior Moroccan officials.