The government expects a significant increase of 88 billion dirhams in tax revenues by 2028
The government aims to achieve a noticeable increase in tax revenues over the next three years, rising from approximately 320 billion dirhams in 2025 to over 407 billion dirhams in 2028, reflecting an increase of around 88 billion dirhams, according to a multi-year budget programming report issued by the Ministry of Economy and Finance.
The report indicates that this growth will encompass various types of taxes, with income tax revenues anticipated to rise from about 61 billion dirhams in 2025 to nearly 71 billion dirhams in 2028. Meanwhile, corporate tax revenues are expected to increase from 73 billion dirhams to 107 billion dirhams during the same period.
Value-added tax is also projected to see a significant rise from 100 billion dirhams to 128 billion dirhams within three years, along with an increase in internal consumption tax revenues from 36 billion dirhams to 48 billion dirhams.
The Ministry of Economy and Finance forecasts that tax revenues will grow annually by an average of 5.5 percent, reaching 366.5 billion dirhams in 2026, 386.7 billion dirhams in 2027, and ultimately 407.8 billion dirhams by 2028.
This financial direction, according to the same source, is based on assumptions of the macroeconomic framework and the anticipated positive impact of the reforms outlined by the framework law for tax reform, which aims to broaden the tax base and enhance tax equity.
The draft finance law for 2026 includes a series of measures intended to reduce the tax burden on taxpayers, stimulate employment, enhance corporate competitiveness, update tax practices, and ensure price stability despite rising production costs and drought conditions.
In terms of non-tax revenues, public institutions and companies are expected to generate approximately 27.5 billion dirhams in 2026, 25.5 billion dirhams in 2027, and 25.3 billion dirhams in 2028.
The government will also continue to rely on “innovative financing” mechanisms, aiming to mobilize 20 billion dirhams in 2026 and 15 billion dirhams in 2027, through the divestment of certain state-owned real estate assets, while revenues from the sale of state shares are anticipated to reach around 6 billion dirhams annually between 2026 and 2028.
These trends are part of a financial strategy aimed at strengthening the state’s resources, rationalizing the management of its public portfolio, maintaining macroeconomic balances, and providing greater financial margins to support public investment and stimulate growth.
