Tax revenues rose by 4.8% at the end of March, to total more than 73.63 billion dirhams, i.e. a realization rate of 28.8% compared to the forecasts of the Finance Law (LF), according to the Ministry of Economy and Finance.
Tax refunds, rebates and restitutions, including the share borne by local authorities, amounted to nearly 4.4 billion MAD, compared with 5.5 billion MAD at the end of March 2022, the Ministry said in a document on the situation of the Treasury’s expenses and resources (SCRT) in March 2023.
By type of tax, the main developments that have characterized the behavior of tax revenues show a decline in corporate tax ) of 3.6% and an increase in income tax of 5.5%.
The SCRT also reports an increase in domestic value added tax (VAT) of 29.5%, and increases in import VAT and customs duties of 4.4% and 11.5% respectively.
The domestic consumption taxes recorded an increase of 1.8% as well as the registration and stamp duties which increased by 10.4%.