Net customs revenue reached more than 11.22 billion dirhams (MMDH) at the end of February 2022, up 17.2% compared to the same month of the previous year, according to the General Treasury of the Kingdom (TGR).
These receipts, which include customs duties, value added tax (VAT) on imports and the domestic consumption tax (TIC) on energy products, take into account tax refunds, relief and refunds of 7 million dirhams (MDH) at the end of February 2022, specifies the TGR in its recent monthly public finance statistics bulletin (BMSFP). Revenues net of customs duties thus reached 1.88 billion dirhams, up 13.8% compared to the end of February 2021, the same source said.
Net revenue from import VAT rose by 27.1% to 7.14 billion dirhams. VAT on energy products increased by 64.4% and that on other products increased by 20.8%.
With regard to net receipts from ICT on energy products, they amounted to more than 2.2 billion dirhams, down 4.3% compared to their level at the end of February 2021, taking into account reimbursements, tax rebates and refunds of 3 MDH. Gross customs revenue was 11.23 billion dirhams at the end of February, up 17.2% compared to their level at the end of February 2021. According to the same bulletin, the situation of Treasury charges and resources shows a budget deficit of 11.5 billion dirhams (MMDH) at the end of February 2022, against a deficit of 10.2 billion dirhams a year earlier, according to the General Treasury of the Kingdom.
This deficit takes into account a positive balance of 13.6 billion dirhams generated by the special accounts of the Treasury (CST) and the State services managed independently (SEGMA).
The bulletin also reports an increase in gross ordinary revenue of 7.2%, to 38.8 billion dirhams and ordinary expenses issued by 18.4%, thus generating a negative ordinary balance of 10.2 billion dirhams. The increase in revenue is explained by the increase in direct taxes by 3.1%, customs duties (13.8%), indirect taxes (14.2%) and registration and stamp duties of 9%, combined with the drop in non-tax revenue of 20.8%.