Morocco Imposes Strict Penalties for Late Business Filings

In accordance with Law No. 69.21, amending Law No. 15.95 relating to the Commercial Code and governing payment deadlines, this obligation concerns invoices issued from January 1, 2024 and exceeding 10,000 dirhams. Companies that do not comply with this new tax obligation will be subject to financial penalties that vary depending on the annual turnover.

Defaulting companies with a turnover between 2 and 10 million dirhams will have to pay a fine of 5,000 dirhams. Those with a turnover between 10 and 50 million dirhams will pay a fine of 12,500 dirhams. Those with a turnover between 50 and 200 million dirhams will pay a fine of 50,000 dirhams. The fine reaches 125,000 dirhams for companies with a turnover between 200 and 500 million dirhams.

Since the beginning of this year, this law on payment deadlines applies to all invoices, regardless of the amount. Companies are now required to submit quarterly declarations, a professional source told Hespress. A special exemption has been made for companies with a turnover of less than 50 million dirhams, allowing them to file annual declarations for 2024 and 2025, respectively before April 1, 2025 and April 1, 2026.

The fine rates applied have been set according to the duration of the delay and the new reference rate of Bank Al-Maghrib, specifies the same source, noting that it is 2.50% for the first month, then 0.85% for each additional month or fraction of a month for delays recorded after December 1, 2024. The fine rises to 2.75% for the first month, then 0.85% for each additional month or fraction of a month for delays observed between June 1 and December 1. It reaches 3% for the first month for delays prior to June 1, 2023.

As for the payment deadline, it is set at 60 days in the absence of an agreement between the parties, and at 120 days if an agreement is reached. It runs from the last day of the month of delivery of the goods or provision of the services. Exceptions are provided for certain sectors that can benefit from a 180-day deadline, subject to a specific decree and the approval of the Competition Council.