Agadir24
The Ministry of Economy and Finance has approved a series of tax measures that will come into effect starting next January, in a move aimed at enhancing the purchasing power of Moroccan employees and workers, especially those belonging to the middle class.
These measures focus on reducing the tax burden on employees, by raising the minimum tax-exempt amount to 40,000 dirhams annually, which means that monthly incomes of less than 6,000 dirhams are completely exempt from tax, which will contribute to improving the conditions of many Moroccan families.
The ministry explained in its report on the implementation of the budget and the overall economic forecasts for the next three years that these tax reforms aim to support low-income groups and contribute to alleviating the financial pressures they face.
The 2025 Finance Bill will see additional amendments, including reducing the top tax rate from 38% to 37%, a measure that will ease the burden on a large segment of employees with relatively high incomes, and thus improve the living conditions of this group as well.
The tax exemption for family expenses will be increased, as the exemption value will move from 360 dirhams to 500 dirhams for each dependent person, an amendment that aims to provide additional support to families that bear the expenses of supporting children or dependent individuals, which will lead to improving the financial balance within the Moroccan family.
These tax amendments come within the framework of the government’s strategy to support the middle and economically weak groups and improve their purchasing power, in light of the current economic challenges, as these measures are expected to contribute to creating a positive impact on the national economy in general, by enhancing domestic consumption and stimulating economic activity.
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2024-09-26 14:08:32
