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Tax rates are set to increase in Morocco

Friday, December 23, 2022

Significance

The increases include the withdrawal of some tax breaks that had been available in special investment zones. The budget is aimed primarily at reining in the fiscal deficit, after public debt increased to almost 80% of GDP from 65% before the COVID-19 pandemic.

Impacts

  • Expanded social protection programmes will mitigate some of the effects of the tightening of fiscal policy.
  • Professionals face higher fees, which will cost the government support.
  • Civil servants are likely to strike or protest over the lack of salary rises.

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