Morocco’s tax authority, DGI, urges businesses with revenues of MAD 10-50 million to submit 2024 tax declarations electronically by April 1, 2025. Larger firms must declare quarterly, and penalties are in place for unpaid invoices from January 1, 2025, regardless of amount. Compliance is mandatory even without overdue invoices, with guidelines available on the DGI’s website.
Morocco’s tax authority, La Direction Générale des Impots (DGI), has issued a statement urging businesses to submit their 2024 tax declarations electronically by April 1, 2025. This call comes with a reminder for companies to pay any applicable fines by the same deadline. The directive targets businesses with annual revenues between MAD 10 million ($1 million) and MAD 50 million ($5 million), not including VAT, for the fiscal year ending before January 1, 2024.
These businesses must declare all invoices issued after January 1, 2024, that remain unpaid past the legal deadline. For companies with revenues exceeding MAD 50 million ($5 million), compliance is more stringent, requiring a quarterly declaration by the end of the month following each quarter, as stated by DGI.
The DGI cautioned that penalties will apply to all unpaid invoices issued from January 1, 2025, regardless of the invoice amount being MAD 10,000 ($1,000) or less. Furthermore, businesses are still obligated to submit declarations even without overdue invoices. The statement emphasizes, “The absence of unpaid invoices on time does not exempt you from the reporting obligation.”
To assist businesses in fulfilling these requirements, DGI indicated that companies can download necessary guidelines and data exchange documents from its official website.
The DGI’s recent announcement stresses the importance for Moroccan businesses to comply with tax declaration regulations, emphasizing timely reporting of unpaid invoices. The obligation extends to all applicable businesses, even those without overdue invoices. Companies must adhere to deadlines to avoid penalties, highlighting the necessity for thorough fiscal management.
Original Source: www.moroccoworldnews.com
