Morocco's 2016 Budget Submitted to Parliament including New Progressive Corporate Tax Rates
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, financia…
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