Morocco to Cut Corporate Tax Rate to 20% by 2024 to Boost Investment

This incentive measure, spread over a four-year period, will bring the Corporate Tax (IS) rate down from 31% to 28% by 2020, before stabilizing at 20% in 2024.

The simplification of the Moroccan tax system has always been a subject of debate within companies, and the new initiative is intended to be a response to the grievances of business leaders and industrialists regarding the national and international competitiveness of Moroccan companies.

The approach should, according to government officials, encourage investment, promote exports and give a boost to the job market, knowing that only 140 companies pay 50% of the tax levies.