VAT is levied under the Moroccan Tax Code and is due on all industrial, commercial, and handicraft transactions taking place in Morocco, as well as on importation operations. The standard rate of VAT is 20%. Lower rates of 7%, 10%, and 14% apply to specifically designated operations.
Which country does not charge VAT?
Some of the most popular countries that offer the financial benefit of having no income tax are Bermuda, Monaco, the Bahamas, Andorra and the United Arab Emirates (UAE).
How much is customs duty in Morocco?
customs import duty which depends on the product. para-fiscal import tax of 0.25% Value Added Tax (VAT) of 20% (rates of 7% and 14% apply to some products and services) customs import duties can be reduced if the imported products are covered by free trade agreements or other specific regulatory dispositions.
Is Morocco a tax free country?
Taxes are generally deductible (except for corporate income tax). Morocco offers tax incentives in the form of tax exemption or taxation at more advantageous rates for local and foreign investors.
What is VAT number in Morocco?
Morocco VAT number format
Businesses in Morocco that are required to collect tax will be issued an identification number. Tax identification numbers can be verified with the Ministry of Finance, and will follow a certain format. The VAT number format is 12345678.
Do you charge VAT on Labour?
it’s not illegal for a tradesperson to ask his/her customers to buy the materials directly from the supplier and then only charge for labour. … if a business fails to register on time, they will need to pay the VAT from the date they should have registered even if they haven’t charged the VAT to their customers.
Do you charge VAT on services?
Exempt goods and services
Exempt goods or services are supplies that you cannot charge VAT on. If you buy or sell an exempt item you should still record the transaction in your general business accounts. Examples of exempt items include: insurance.
What are the customs in Morocco?
Morocco is a conservative country and you should always dress modestly when travelling here. Men should wear a t-shirt or collared shirt covering the shoulders and long trousers or shorts that reach the knee. Women should wear long, loose-fitting clothing that covers your upper arms, knees, chest, midriff and back.
What can I import to Morocco?
Imports: The top imports of Morocco are Refined Petroleum ($4.56B), Cars ($2.05B), Vehicle Parts ($1.31B), Petroleum Gas ($1.28B), and Coal Briquettes ($1.1B), importing mostly from Spain ($9.28B), France ($5.42B), China ($4.47B), United States ($3.47B), and Germany ($2.57B).
What does the UK buy from Morocco?
The UK’s top goods imported from Morocco were electrical machinery and equipment (HS85, £134 million), vehicles other than railway or tramway stock (HS87, £126 million), and articles of apparel and clothing, not knitted (HS62, £87 million). 1 EU Member States are treated as individual trading partners with the UK.
Is Morocco a tax haven?
Morocco has been removed from the EU’s tax haven grey list after it took a series of measures and enacted new laws aiming to ensure greater transparency.
Do you pay tax in Morocco?
Individuals who have their tax residence in Morocco are subject to an individual income tax on their worldwide income. Individuals not having their tax residence in Morocco are subject to tax only on Moroccan-sourced income.