Rabat – According to the latest statistics of the General Treasury of the kingdom, the state’s ordinary revenue has increased, alleviating its under-performance in March with a revenue of MAD 76.4 billion in April. Revenue in March had declined by 2.6 percent since February, but revenue in April is up 5 percent since March.
Corporate tax revenues, which declined by 17 percent in March, went down again by 14.6 percent in April to MAD 16.1 billion.
The decrease is explained by the tax returns for the year 2017 distributed in March 2018, which was less than expected due to the inflation base effect.
Income tax revenues increased by 2.4 percent to MAD 14.7 billion. Regarding indirect taxes, Value Added Tax increased by 7.6 percent to MAD 21.9 billion, and Consumption Internal Tax (TIC) increased by 6.1 percent to MAD 8.9 billion.
Investment income taxes dropped 4.7 percent to MAD 22.5 billion.
Government spending has remained stable at MAD 73.3 billion per month, mainly due to the fall in debt interest payments, which offset the slight increase in the government’s salary expenses. Morocco spends MAD 3.5 billion repaying external debt.