Morocco's draft budget measures for 2016 were recently submitted to parliament. The main tax-related measure is replacing the current standard corporate tax rate of 30% with progressive rates as follows:
- up to MAD 300,000 - 10%
- over MAD 300,000 up to 1 million - 20%
- over MAD 1 million up to 5 million - 30%
- over MAD 5 million - 31%
The current 37% corporate income tax rate for banks, financial institutions, and insurance companies would remain
Other key tax-related measures include:
- The d…