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    TGR: Morocco’s Customs Revenue Climbed by 24.9% in Late July 2022

    Last year, the Moroccan net customs income exceeded MAD 70.9 billion ($ 7.6 billion) in 2021, an increase of 23.8% over 2020.

    13 Aug 2022

    Casablanca - Morocco’s net customs revenue amounted to roughly MAD 49 billion ($4.7 billion) in the first seven months of this year, a 24.9% increase over the same period last year, according to Morocco’s General Treasury (TGR).

    These revenues, which comprise customs duties, value-added tax (VAT) on imports, and domestic consumption tax (TIC) on energy items, include MAD 173 million ($16.8 million) in tax returns, rebates, and refunds, the TGR’s monthly report noted.

    As a result, the net revenue from customs taxes reached MAD 7.9 billion ($768 million), a 23.4% increase compared to the end of July 2021, the report added.

    Net revenues from VAT on imports climbed by 33.9% to MAD 31.5 billion ($3 billion). While consumption taxes on energy goods increased by 2.8% to MAD 9.5 billion ($918 million), after accounting for refunds, rebates, and tax refunds.

    For their part, the gross customs income climbed by 25.2% to MAD 49 million ($4.7 million).

    With the new customs restrictions, the Moroccan customs revenues continue to increase.

    The North African country’s net customs income exceeded MAD 70.9 billion ($7.58 billion) in 2021, an increase of 23.8% over 2020, according to the TGR’s last year’s report.

    Last year, net revenues from customs rights increased by 26.4% to MAD 11.8 billion ($1.3 billion), the TGR noted.

    Meanwhile, the report added that the net profit from import VAT increased by 24.6% to MAD 42.4 billion ($4.5 billion).

    As for the net revenues of domestic consumption tax related to energy products, it exceeded MAD 16.7 billion ($1.8 billion), climbing by 20.1% compared to December 2020, the report concluded.

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