As previously reported, the Moroccan Government approved the draft Budget for 2020 on 17 October 2019. The related draft Finance Law for 2020 has been published by the Ministry of Finance and presented in parliament. Some of the main measures of the law are summarized as follows:
- The standard progressive corporate tax rates are amended with an increase in the second rate from 17.5% to 20%:
- up to MAD 300,000 - 10%
- MAD 300,001 up to MAD 1,000,000 - 20%
- over MAD 1,000,000 - 31%
- Accordingly, …