Morocco’s Tax Amnesty Program Reaches 100 Billion Dirham Milestone

This amount was 50 billion dirhams on December 31, 2024, according to a provisional assessment revealed by Le360. In just 24 hours, it has doubled to 100 billion dirhams, of which 60 billion were deposited in banks and nearly 40 billion in the form of real estate acquisitions and contributions to current accounts of partners, according to the same source.

The operation is expected to generate nearly 5 billion in tax revenue with the 5% liberating contribution levied on these amounts. Banks are required to pay these deductions to the Treasury within a month of the filing of the declaration. These revenues will be recorded for the year 2025.

With this record amount of 100 billion dirhams (20 times higher than in 2020), the 2024 tax amnesty has been a resounding success, according to observers. Pending the publication of the official figures, it should be noted that this amount represents nearly a quarter of the cash in circulation in Morocco, estimated at 425 billion dirhams.

To recall, the Directorate General of Taxes (DGI) had set a target of 60 billion dirhams as part of the 2024 tax amnesty. In the end, the operation has kept its promises, with nearly 100 billion dirhams collected from the kingdom’s high net worth individuals.