The draft budget 2018 was presented to the Parliament on October 20, 2017. This draft Law is available in French language. The Economic and Finance Minister, Mr. Mohamed Boussaid, held a press conference regarding the Finance Bill 2018 on October 26, 2017 in Rabat. It includes a package of fiscal measures in favor of companies, with a reduction in the tax burden. The main agenda of this press conference mainly focused on developments in the economy, enforcement of the Finance Act 2017 by September 30, 2017, and general instructions of the Finance Bill 2018. This was adopted by the government council on October 16, 2017 in a meeting, chaired by Head of Government, Saad Eddine El Othmani. The draft measures will generally apply from January 1, 2018, if parliament approves. The key summary of the proposed tax measures are:
- Changing 30% corporate income tax rate for a particular thresholds i.e. MAD 1 million to 5 million. The new proposed rate is 10% for the amount up to MAD 300,000, 20% for the range between MAD 300,001 up to MAD 1,000,000 and 31% for more than MAD 1,000,000.
- Amendment to the company restructuring system. It proposes to allow the carry forward of losses resulting from the depreciation of fixed assets in the case of a merger.
- Proposal of an exemption in case of registration duty regarding company formation.
