2023-10-21 06:36:00
The draft Finance Law of 2024 provides for the establishment of a discharge contribution relating to the spontaneous regularization of assets and cash held abroad before September 30, 2023 by a specific category of persons who are in violation of the regulation of exchange and tax legislation.
The PLF 2024 plans to introduce a series of measures for spontaneous and voluntary regularization of the tax situation of taxpayers. Land, assets held abroad, cash or even rectification of tax declarations… The operation is intended to be global.
This discharging contribution concerns natural and legal persons having a residence, head office or tax domicile in Morocco and having committed offenses relating to exchange regulations, relating to assets abroad or in foreign currencies, as well as offenses related tax obligations and provided for by the general tax code.
The constitution of assets abroad may be in the form of real estate, financial assets and securities and other capital and debt securities held abroad or liquid assets deposited in accounts opened with financial organizations, credit organizations or banks located abroad.
That said, ten years after the spontaneous regularization for assets and liquidity held abroad, decreed by Benkirane and relating to the repatriation of assets held by Moroccans abroad, the PLF 2024 nonetheless continues to arouse questions. Indeed, more or less specific cases may arise depending on the nature of the property held and the situation of the holder.
Never mind ! the persons targeted by this regularization operation can benefit from the non-application of sanctions relating to exchange and tax offenses. They must first of all file a declaration with a credit institution approved as a bank, according to a model pre-established by the Foreign Exchange Office, highlighting the nature of the assets held abroad.
Under the conditions to be respected, repatriate cash in foreign currencies as well as the income and products generated by said cash and transfer at least 25% of these on the foreign exchange market in Morocco against dirhams with the possibility of depositing the remainder in accounts in foreign currency or in convertible dirham from credit institutions approved as banks, located in Morocco.
The rate of the final contribution is set at 10% of the acquisition value of real estate held abroad or of the subscription or acquisition value of financial assets and transferable securities and other capital or debt securities. detained abroad.
Another rate of 5% is provided for the amount of liquid assets in foreign currencies repatriated to Morocco and deposited in accounts in foreign currencies or convertible dirhams. Then a rate of 2% of foreign currency liquidity repatriated to Morocco and sold on the foreign exchange market in Morocco against the dirham.
It is important to note that the persons concerned have a period from January 1 to December 31, 2024 to subscribe to the declaration and pay the discharge contribution relating to spontaneous regularization for assets and cash held abroad.
Exchange regulations now allow Moroccans residing abroad who transfer their habitual residence to Morocco, from February 3, 2014, the date of publication of circular n°2/2014, to freely dispose of their property and assets. abroad without any authorization from the Foreign Exchange Office.
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