Morocco Boosts Business Travel Allowance to 100,000 Dirhams for Companies

In accordance with the conditions defined by the IGOC, these allowances are granted to the personnel of Moroccan companies or regularly registered branches with the Office des Changes and not having foreign currency or convertible dirham accounts, microfinance associations or recognized as being of public utility, cooperatives, professional federations and natural persons practicing a liberal profession not having foreign currency or convertible dirham accounts.

This allowance concerns the total amount of Corporate Income Tax (IS) or Income Tax (IR), i.e. 500,000 dirhams per calendar year (article 105 IGOC), or 1,000,000 dirhams per calendar year for the closed fiscal year (article 17 bis IGOC) for companies subject to IS. For companies under the IR regime, it is the total amount of IR within the limit of 100,000 dirhams per calendar year for the closed fiscal year, or 500,000 dirhams for companies with a tax credit.

All the companies concerned are required to open a "business travel allowance" account with a bank in order to benefit from this allowance. It is possible to open several foreign currency or convertible dirham accounts, on the sole condition that the credited amounts do not exceed the limit provided for in Article 106 of the IGOC. At the request of the beneficiaries, these allowances can be loaded onto international payment cards.