Significant Increase in Tax Revenues Strengthens Moroccan Treasury
Tax revenues in Morocco exceeded 144.25 billion dirhams by the end of May 2025, reflecting a growth rate of 16.7 percent compared to the same period in 2024. According to data from the Ministry of Economy and Finance regarding the “Situation of Expenditures and Treasury Resources,” 45.1 percent of the annual expectations set by the Finance Law for these resources have been achieved.
The amounts for refunds and tax exemptions, including those borne by local authorities, have notably doubled, rising from 6.6 billion dirhams to 11.4 billion dirhams, as part of the state’s efforts to clear delays in value-added tax payments.
Corporate tax achieved a realization rate of 51.9 percent, a surge exceeding 34.5 percent, supported by an increase in voluntary refunds. Moreover, income tax rose by 27.6 percent, benefiting from voluntary settlements and administrative interventions. The value-added tax also recorded an increase, particularly related to imports.
Domestic consumption taxes have seen a significant rise, driven by the increase in taxes imposed on energy products, while customs duties experienced a slight decline, paralleled by improvements in registration and stamp duties.
Non-tax revenues reached 11.9 billion dirhams, representing a 25.2 percent increase, with Bank Al-Maghrib and the National Land Registry Agency contributing significantly, reflecting a general recovery in the state’s financial resources during the first half of the current fiscal year.
