Morocco Delays Bill on International Financial Data Sharing, Expats Concerned

Status quo around bill 77.19 relating to the exchange of financial account information signed by Morocco on June 25, 2019. This is a multilateral agreement between the competent authorities for the automatic exchange of information relating to financial accounts, a legal framework of an international nature governing a set of bases and standards between the participating countries in order to promote tax liability and combat tax evasion.

This bill was tabled before the deputies in the summer of 2020, says Aujourd’hui Le Maroc. The permanent parliamentary committee responsible for foreign affairs, national defense, Islamic affairs and Moroccans residing abroad in the House of Representatives continues to examine it. There is no indication that this project will be adopted in the very near future.

The adoption of the project is struggling to be effective while the entry into force of the International Convention is scheduled for the last quarter of the current year. The competent authorities had meanwhile negotiated a new deadline with foreign partners. When will the adoption of bill 77.19 relating to the exchange of financial account information take place?