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Morocco Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
34,314,130 (July 2018 est.)GDP (PPP)
$298.6 billion (2017 est.)GDP growth rate
4.1% (2017 est.)High, but a bit unstable over the years
GDP (PPP) per capita
$8,600 (2017 est.)Very low. The lowest of the North African countries bordering the Mediterranean Sea. This because they do not have natural resources like the others
Local currency
Moroccan dirham (code: MAD)Quite stable currency
Financial stability (Public debt)
65.1% (2017 est.)Medium to low, quite stable in the last 5 years
Inflation
0.8% (2017 est.)Low
Language
ArabicFrench is the language of business
Corruption perception index (Source: Transparency International)
Rank 73/180Very high, however it is improving
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
20% standard VAT rateReduced rates: 7%, 10%, and 14% applied to specifically designated operations. No VAT on some goods
Corporate Tax
Progressive scale10.0%: from 0 to 300,000 MAD (approx 30,000€); 17.5%: from 300,001 MAD to 1,000,000 MAD (approx 94,000€). Credit institutions and insurance companies corporate income tax is higher (37%). Non-resident companies can, under certain conditions, opt for an alternative tax at the rate of 8%; 31.0%: from 1,000,001 MAD
Duties
VAT on importation (20%, 14%, 10% and 7% depending on operations)Taxe Parafiscale à l’Importation (TPI): 0.25% levied on the value of the imported goods
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