Morocco Sets 90-Day Deadline for Repatriating Online Service Earnings

The announcement was made by the Director General of the Foreign Exchange Office, Hassan Boulaknadal, in an interview with MAP, explaining that following the development of online revenue-generating activity in foreign currency by individuals, the Office has deemed it useful to control these operations according to a risk-based approach.

According to the DG of the Office, the action taken has made it possible, on the one hand, to raise awareness among this category of people and to remind them of their obligations regarding the repatriation of the proceeds of their service exports and this, within a maximum period of 90 days after the execution of the benefits.

The initiative of the office has made it possible to sanction the infractions noted in this framework against certain controlled natural persons, namely the non-repatriation of the proceeds of these service exports and the constitution of foreign currency abroad without authorization from the Foreign Exchange Office, he stressed.