Increase in Tax Revenues by 19.3% by the End of April 2025
The Ministry of Economy and Finance reported that tax revenues exceeded 122.59 billion dirhams by the end of April 2025, marking an increase of 19.3% compared to the same period last year.
The ministry, in a document on the status of treasury liabilities and resources, indicated that these revenues recorded an implementation rate of 38.3% relative to the forecasts of the 2025 Finance Law.
The source noted that net payments, settlements, and refunded tax amounts, including the portion borne by local authorities, doubled from 5.3 billion dirhams at the end of April 2025 to 10.1 billion dirhams. This increase is primarily a reflection of the state’s efforts in settling value-added tax credits.
According to the nature of taxes, key developments in tax revenues indicated that corporate tax achieved an implementation rate of 49.8%, rising by 9.2 million dirhams (up 34.1%). This reflects an extraordinary increase in automatic collections amounting to 11 billion dirhams (up 39.5%), driven mainly by a notable rise in settlement amounts of 6.7 billion dirhams (up 53.3%) and the first deposit of 3.8 billion dirhams (up 38.3%). The value of refunds related to this deposit was 2.5 billion dirhams, compared to 964 million dirhams a year earlier. Meanwhile, income tax revenues rose by 6.6 billion dirhams (up 32.1%) with an implementation rate of 44.9%, primarily reflecting the impact of voluntary tax settlements, which recorded 3.8 billion dirhams for January 2025, and an increase of 1.7 billion dirhams in revenues from tax administration activities.
Additionally, income tax revenues displayed an increase of 528 million dirhams.
On the other hand, value-added tax revenues recorded an implementation rate of 31.1%, increasing by 1.6 billion dirhams. This reflects a rise in revenues from value-added tax on imports amounting to 2 billion dirhams (up 11.1%), accompanied by a decrease in domestic value-added tax revenues by 440 million dirhams (down 3.7%).
Regarding payments and settlements of value-added tax, they reached 4.8 billion dirhams compared to 2.7 billion dirhams at the end of April 2024.
Moreover, the ministry noted that domestic consumption tax revenues recorded an implementation rate of 31.3%, with an increase of 1.3 billion dirhams (up 12.3%), mainly due to a rise in revenues from the internal consumption tax on energy products amounting to 906 million dirhams (up 16.3%).
As for customs duties, they recorded an increase of 350 million dirhams (up 6.9%), while registration and stamp duty revenues rose by 463 million dirhams (up 5.4%), with implementation rates of 25.3% and 41.4%, respectively.
On the non-tax revenue front, it stabilized at 9.6 billion dirhams, compared to 10 billion dirhams at the end of April 2024, reflecting a slight decrease of 414 million dirhams (down 4.1%). Meanwhile, revenues from public enterprises amounted to 4.9 billion dirhams, including 3.8 billion deposited by Bank Al-Maghrib and 1 billion from the National Agency for Land Conservation and Geometric Survey.
The statistical document concerning the status of treasury liabilities and revenues, issued by the Ministry of Economy and Finance, presents the results of executing the Finance Law forecasts by comparing them with the achievements recorded during the same period last year.
While the status produced by the public treasury of the Kingdom has an accounting nature, the statistical document regarding the status of treasury revenues is compiled according to recommendations of international standards for public finance statistics, covering economic transactions conducted during the financial period concerning ordinary revenues, ordinary expenditures, investment expenditures, budget deficits, financing needs, and financing mobilized to cover these needs.
