Is Morocco what is called a “tax haven”?
In any case, the European Union has placed the Kingdom in its “gray list” of this classification. EU no doubt considers that the tax rate is still too low to get out of this famous gray list, compared to what is required in OECD countries.
So certainly, Morocco seems to have made progress, but it has yet to review its copy. If Morocco pairing is doing everything to attract investors and make their job easier, Finance draft 2020 has taken into account certain requirements of the EU which is suffering from increasing relocation. In terms of transparency and the fight against tax evasion, the state has made considerable efforts that will ultimately pay off.
The requalification of free zones, the revision of their taxation and the raising of corporate taxes are projects on which the thinking heads of the Finance draft 2020 have worked.
Also, Mohamed Benchaaboun was certainly surprised by the EU’s decision, since he signed in 2019 with the Secretary General of the OECD, Angel Gurría, a convention for the implementation of measures relating to tax treaties. Objective: to prevent the erosion of the tax base and the transfer of profits. Has the EU taken all of these efforts into account before updating its data or will it do so afterwards? The future will tell.
In the meantime, the notion of a “tax haven” remains rather vague, even if in the eyes of the OECD, it is assimilated to three principles: the transparency of the tax system, the exchange of information with States and rigor on taxes. In this area, Morocco is not all black. He’s not white either.