The income tax rate in Morocco! Do you wish to know the updated Income-tax rate and bracket? Do you know that the Tax Brackets in Morocco might differ from year to year? If you aren’t aware, you must note when the tax rate in Morocco changes so that you can adjust to the economic situation in Morocco.
The change in the income tax rate for certain years might change slightly or there might not be anything noticeable change. The Federal income tax rates in Morocco have been updated in 2022.
You may also be asking: Are taxes high in Morocco? What is the corporate tax rate in Morocco? Which country has highest tax on income?
In this article, you will get to find out the latest version of the 2022 Moroccan tax bracket, how much income tax in Morocco, and why tax Brackets do change from year to year, how the changes in the Morocco tax rate can affect income and expenditures, and we will also attempt several frequently asked questions on tax brackets in Morocco.
How much is the Personal income tax rate in Morocco 2022
The Personal Income Tax Rate in Morocco stands at 38 percent
- Personal Income Tax Rate 33.0%
Income tax in Morocco is calculated under the newly implemented regime of Morocco’s taxation system which includes:
|Progressive income tax||From 0 to 38%|
|Up to MAD 30,000||0%|
|From MAD 30,001 to 50,000||10%|
|From MAD 50,001 to 60,000||20%|
|From MAD 60,001 to 80,000||30%|
|From MAD 80,001 to 180,000||34%|
|Above MAD 180,000||38%|
How is Income tax in Morocco Calculated?
Morocco’s taxation system provides a platform where citizens can pay their taxes choosing either the old or new tax regime as long as it favors them.
In the new tax regime, tax reductions are made on their annual salary and moved towards the national pension scheme.
Morocco’s tax calculator and taxation system for citizens and foreigners are quite favorable for both the government and its citizens, hence helping them strive toward steady economic growth.
Are taxes high in Morocco?
The tax pressure is still high in Morocco, According to the Organization for Economic Co-operation and Development, tax revenues including taxes and social contributions accounted for 26.4% of GDP in Morocco in 2016, which was the third-highest ratio after Tunisia (29.4%) and South Africa (28.6%).
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