The General Treasury of the Kingdom of Morocco has witnessed an unprecedented financial influx in recent hours, with collected revenues exceeding 2 billion dirhams in just 72 hours. This comes as part of the voluntary tax situation settlement process for individuals, which will continue until December 31, 2024.
According to banking sources, this substantial amount was injected into the state coffers during the past few days, as the deadline for this settlement period approaches. Regional and provincial tax directorates, along with bank agencies throughout the kingdom, have seen a high turnout of citizens wishing to settle their tax situations.
Cities such as Casablanca, Tangier, Agadir, and Marrakech have emerged as major centers for settlement operations, where businessmen from various sectors, especially in real estate and informal trade, have paid millions of dirhams to the state treasury. A large number of social media influencers also participated in this process, declaring their taxes to justify their properties, including real estate, cars, and land.
This settlement covers taxable profits and income in Morocco that were not declared before January 1, 2024. It includes liquid assets deposited in bank accounts or held in the form of banknotes, as well as the acquisition of movable or immovable property not intended for professional use.
According to the same sources, it is expected that the Moroccan General Treasury will collect more than 20 billion dirhams (about 2 billion dollars) before the end of the year. The opportunity for exonerative contribution continues until December 31, allowing individuals in irregular situations a chance to comply with their tax obligations.
These staggering figures reflect the success of the new tax policy in Morocco and citizens’ willingness to settle their situations, which enhances state resources and contributes to improving financial transparency in the country.