Morocco to Reinstate Solidarity Tax for Social Protection Funding

This option, included in the 2023 finance bill, aims to finance direct support to needy and poor groups, through the unified social register, which will be generalized throughout Morocco next year.

Relying on the exceptional context the country is going through, the government explained that the financing of the unified social register workshops will involve a return to the re-accreditation of the social solidarity contribution on profits and income for the next three years, as well as the gradual reform of the compensation system from the end of 2023.

Furthermore, the executive also plans to set the corporate tax rate by proposing new tax rates, particularly on banks, credit institutions, finance and insurance companies. The government has set three tax rates: 20%, 35% and 40%. According to forecasts, the state expects around 48 billion dirhams from corporate tax in 2023 instead of 43 billion dirhams this year.