Morocco’s Customs Revenues Decrease by 3.1% at End-August – Treasury

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Morocco’s net customs revenues stood at 54.58 billion dirhams at the end of August, down 3.1% on the same period a year earlier, according to the Kingdom’s General Treasury (TGR). These revenues, which come from customs duties, value-added tax (VAT) on imports and domestic consumption tax (TIC) on energy products, take into account tax refunds, rebates and restitutions of 46 million dirhams (MDH) at the end of August 2023, according to the monthly public finance statistics bulletin for August. Net receipts from customs duties at the end of August reached 9.59 billion dirhams, up 4.6% on the previous year (9.176 billion in 2022), said the same source. Net revenues from VAT on imports stood at 34.25 billion dirhams at end-August 2023, compared with 36.447 billion a year earlier, down 6%. VAT on energy products fell by 19.7%, whilst VAT on other products decreased by 1.8%.