Morocco’s Alcohol Tax Revenue Surges to 867 Million Dirhams in First Half of 2023

The Ministry of Economy and Finance has released its quarterly report on the execution of the 2023 Finance Act. It emerges that taxes on alcoholic beverages have brought the State Treasury a revenue of 867.4 MDH at the end of June 2023, reports Hespress. In detail, taxes on wines generated 400 MDH while taxes on beers brought in 467.4 MDH, i.e. realization rates of 47% and 42% respectively of the finance law forecasts. The finance law plans to reach 859.2 million dirhams for taxes on wines and 1.11 billion dirhams for taxes on beers.

Taxes on manufactured tobacco have also brought in a lot of money to the State. They amounted to 5,679.4 MDH at the end of June, i.e. a realization rate of 45% of the finance law forecasts. As for taxes on energy products, they generated 7,743.1 million dirhams, achieving a rate of 46%. Value added tax (VAT) on imports reached 25.849 billion dirhams, i.e. a realization rate of 48%. Regarding domestic medium and long-term borrowing, it generated a revenue of 57.971 BMDH, i.e. a realization rate of 84% compared to the finance law forecasts.

The department of Nadia Fettah Alaoui will also specify that the execution of the finance law at the end of June 2023 nevertheless shows a negative budget balance of 27.9 BMDH, resulting from ordinary resources, excluding borrowing revenues, of 235.2 BMDH and charges, excluding debt repayments, of 263.1 BMDH.