Morocco to Renegotiate Tax Agreements for 6 Million Expats with OECD

The Minister of Foreign Affairs and his colleague in charge of the Budget have committed to opening new negotiations with the OECD shortly to review each of the clauses of the two conventions signed four years ago with this European institution and aimed at exchanging tax returns and information relating to the bank accounts of MREs, and to correct any errors they may contain.

The two draft laws relating to these conventions are still under study in the Foreign Affairs Committee in the first Chamber. The parliamentary groups, both from the majority and the opposition, opposed the scheduling of the vote on the two texts in the plenary session of the Chamber, reports the daily Al Akhbar. For the deputies, the ratification of these two texts touches on the interests of the six million MREs who could start paying taxes on their assets acquired in Morocco.

The newspaper argues that the Executive must preserve the interests of MREs, which cannot be the subject of any concession in favor of a certificate of good conduct or proof of transparency of the Moroccan financial system and the effectiveness of its system to combat money laundering and the financing of terrorism. During these negotiations with the OECD, the government must remember that countries like France, Belgium or the Netherlands are determined to prevent the transfer of funds from MREs, the same source insists.