Morocco to Share Tax Data with OECD in 2022, Aligning with Global Minimum Tax Deal

The agreement in question is based on two pillars: the reform of the rules that give countries the right to tax large multinationals regardless of their physical presence in the territory, and the introduction of a minimum tax rate of 15% against tax competition between countries, reports Les Inspirations ECO.

According to the daily, 133 countries and jurisdictions out of 139 have already given their in-principle agreement to implement this reform. "Even in the absence of total consensus at the Inclusive Framework level, the effective implementation of this agreement would not be called into question. It will only remain to set the implementation modalities and validate the work plan for the implementation of the reform," the newspaper assures, announcing that the implementation of the two pillars will be effective as of 2023, the time to finalize the administrative procedures and validate the work plan for the implementation of the reform.

To read: Morocco Delays Implementation of Global Tax Transparency Measure

"This agreement will definitively put an end to tax havens," the newspaper believes, estimating that "countries with a large diaspora in Europe like Morocco, Turkey or Tunisia would have expressed reservations about the convention on the global exchange of information for tax purposes by excluding countries of residence of their citizens (France, Belgium, Netherlands...)". In fact, the OECD would be obliged to place these states on the list of tax havens.

"Exchanges can be automatic, spontaneous or take place on request, without any possible reservation both in terms of the implementation of the exchange of information and the country with which the exchange takes place," the newspaper also points out, recalling Morocco’s commitment to implement the automatic exchange as of 2022.