Morocco’s Customs Revenue Surges 17% as Import Taxes and VAT Rise

In its recent monthly bulletin of public finance statistics (BMSFP), the TGR indicated that this revenue consists of customs duties, value added tax (VAT) on imports and domestic consumption tax (TIC) on energy products.

In detail, the TGR reports that net customs duty revenue reached 1.88 MMDH, an increase of 13.8% compared to the end of February 2021. As for the net revenue from VAT on imports, it experienced a jump of 27.1% to 7.14 MMDH. As for VAT on energy products, it recorded an increase of 64.4% and that on other products experienced a progression of 20.8%.

In the same bulletin, the TGR indicated that the net revenue from the TIC on energy products recorded a decline and is estimated at more than 2.2 MMDH. Gross customs revenue, on the other hand, recorded an increase, standing at 11.23 MMDH during the same period.