Morocco’s Tax Amnesty Yields Record-Breaking Revenue, Surpassing Expectations

Also called "voluntary regularization", the tax amnesty aimed to allow Moroccan taxpayers to regularize their situation with the tax authorities. At the end of the one-year period of the operation, more than 100 billion dirhams were declared as of January 1, 2025. A record amount that exceeds all expectations, as the Moroccan state had set a target of 5 billion dirhams. In the end, the results of the 2024 tax amnesty are twenty times those of the 2020 edition.

The operation was a great success due to the commitment of Moroccan banks, which highlighted the benefits of this regularization for their clients, assuring them of the "discretion" of the operation which, according to the Moroccan government, aims to "fight tax evasion". The 100 billion dirhams declared are divided as follows: 60 billion in cash deposited with banks and 40 billion in the form of real estate acquisitions or contributions to current accounts of partners. This amount represents a quarter of the cash in circulation in Morocco, estimated at around 430 billion dirhams by the central bank.

The 100 billion dirhams declared are justified by the accumulation of cash since 2020, explain financial experts interviewed by Le Monde, noting that these funds come from the financial aid that more than 4 million families had benefited from during the Covid-19 pandemic. According to economist Lhoucine Bilad, this record amount is also explained by the implementation in 2021 of the single professional contribution, which has favored strong banking, inflation and strengthening of tax controls.

Many Internet users have reacted to this record amount recorded by the 2024 tax amnesty, evoking a "Moroccan capitalism" and reproaching Moroccans for hoarding instead of investing. For others, this operation has revealed the extent of tax evasion in Morocco and confirms, according to economist Mehdi Lahlou, that the counterpart of paying taxes, in particular "public investment in education and health", is not ensured by the State.