Morocco Clarifies: Expats Not Required to Declare Moroccan Bank Accounts Abroad

In a statement published on Wednesday, the DGI denied these false information published on social media, which state that MREs are required to declare their bank accounts in Morocco to the tax authorities of their country of residence as of 2021. According to these media, the multilateral convention on tax treaties BEPS signed in June 2019 by Morocco would provide for an automatic exchange of information between the signatory countries.

However, the automatic exchange of information is not part of the purpose of the BEPS convention, clarifies the DGI, which specifies that Morocco "is not bound by any commitment to automatically exchange information for tax purposes during the year 2021".