Social audit

Is social audit in Morocco of the same importance as other audits (accounting, tax, etc.)? Does social audit have its place in the daily life of a company? How do companies assess their compliance with current social regulations? In Morocco, the dilemma that social audit presents us with takes place in an ever-changing environment. As […]

VAT on services

Tax Treatment of VAT on services Article 89 of the General Tax Code lists providing services amongst taxable transactions. Provision of services is a very broad concept. Indeed, it includes all payable transactions that do not entail a delivery of goods. Moreover, VAT on services also applies to transactions and activities that fall within the […]

Transfer pricing documentation

The 2021 Moroccan Finance Act tightened transfer pricing documentation requirements. In this article we specifically address the following points: First, legal and regulatory framework in force in Morocco for transfer pricing Second, tax measures adopted in the 2021 Finance Act regarding transfer pricing documentation. Contact us if you have any questions or for assistance. You […]

Accounting in Morocco

Why you should entrust your accounting in Morocco to a qualified professional: First of all, a company can choose to do its accounting in several ways: In-house accounting: most large companies have an accounting department. As such their accounting is done internally. Outsourced accounting: Other companies can choose to outsource their accounting to more specialized […]

Risk mapping: what you need to know

Risk mapping is a generic term used in various management areas. Indeed, this term designates an approach that aims to : First, identify risks inherent in an entity’s activities; Second, assess these risks in terms of Severity, gravity and impact ; Likelihood of occurrence Finally, prioritize and the implement management actions The notion of risk […]

Principle of Continuity in Moroccan Accounting

The principle of continuity is one of the fundamental accounting principles of Moroccan accounting. Indeed, the General Code of Accounting Standards (CGNC) states that, to establish its financial statements, the company must ensure that it is able to continue its activities beyond the end of the fiscal year. If a cessation of activity is foreseen, […]

General Code of Accounting Standards (CGNC)

General Code of Accounting Standards (CGNC – Code Général de Normalisation Comptable) has force of law in Morocco. Indeed, its application is mandatory by virtue of the Dahir of December 25th , 1992 on the accounting law (loi n° 9-88). The CGNC defines all the rules and procedures that allow accounting to reflect a true […]

Value Added Tax in Morocco (VAT)

Value Added Tax (VAT) is a consumption tax applied to the purchase of goods or services. Consumers are subject to VAT which is applied ad valorem to the purchase price. It does not apply to corporate income like the CIT. It follows a fragmented payment system. Value-added tax is levied on a product when value […]

Converting an LLC to a PLC

In Morocco, converting an LLC to a PLC is an operation that can only be decided by the company’s partners. Indeed, the partners of a Limited Liability Company can decide to transform it into another form, in particular into a Public Limited Company. In practice, the conversion consists of an amendment to the articles of […]

Turnover: Tax regulations in Morocco

The turnover, as defined in article 9 of the General Tax Code, corresponds to the revenues and receivables that the company has definitively obtained as a result of: Firstly, delivery of goods Secondly, provision of services Finally, the execution of real estate works. This amount is a taxable income subject  to Corporate Income Tax.   […]