Morocco MOF Posts General Tax Code, Circular Explaining Tax Measures Under 2022 Finance Law

The Moroccan Ministry of Economy and Finance Jan. 26 posted online the general tax code, reflecting changes from the 2022 finance law and Circular Note No. 732, explaining the tax measures. The law includes measures: 1) reducing the tax rate to 26 percent from 31 percent for companies with a net profit of up to 100 million Moroccan dirhams (US$10.6 million) that carry out industrial activities; 2) setting coefficients for various services to determine the tax base; 3) providing VAT exemptions for products and materials used in the manufacturing of photovoltaic panels; 4) setting a 10 percent reduced VAT rate ...