Morocco and Japan to Sign Tax Treaty, Boosting Economic Ties and Investment

The agreement in principle for the implementation of a tax convention between their economies has been decided between the two countries, the same press release reported by agenceecofin.com.

This convention, according to the same source, should contain provisions aimed at clarifying the scope of taxation and eliminating double taxation between the two countries.

It will also help prevent tax fraud and evasion, while promoting mutual investment and economic exchanges between the two nations, the same media notes.

This announcement comes in a context marked by a desire of the Japanese government to boost its investments in Africa, to catch up with its delay on a continent dominated by the Chinese presence.

This is actually the reason why Tokyo has announced new cooperation agreements with African countries, focused on bilateral investment agreements, tax exemption programs and improved security.

These are agreements aimed at strengthening the presence of Japanese companies on the African continent, the same source points out.

However, the new convention between Rabat and Tokyo still needs to be signed by the governments of the two countries, and then ratified by their respective parliaments, before it can enter into force.