Moroccan Accountants’ Organization Proposes Key Amendments to 2025 Finance Bill to Ease Tax and Administrative Burdens

On Friday, November 8, 2024, the Moroccan Professional Organization of Certified Accountants presented a series of important proposals to amend the 2025 Finance Bill, aiming to reduce tax and administrative burdens on accountants and enhance the transparency of financial operations.

These proposals followed extensive meetings with parliamentary groups, during which various legal provisions affecting the work of accountants and their role in the national economy were discussed.

Among the proposed amendments is the revision of Article 73 of the General Tax Code, concerning income tax, as well as the removal of the repeated Article 206, which mandates accountants to electronically register accounting transactions. The organization believes this requirement could increase financial costs for accountants and impose an additional burden on their offices.

The organization also suggested adding an extra year to regularize the status of inactive companies, providing these businesses with a new opportunity to correct their financial and legal standing. Furthermore, they emphasized the importance of extending the deadline for international tax regularization outlined in Article 7 of the 2024 Finance Bill, allowing Moroccans living abroad ample time to settle their tax situation comfortably.

These proposed amendments have received a positive response from parliamentarians, who expressed their understanding of the significance of these recommendations in supporting the financial sector and improving accounting practices in Morocco.

source : fesnews media

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