The Ministry of Finance has just reintroduced this measure, which was considered as early as 2014.
Rabat – The tourism allowance will be linked to paid income tax, and the measure will be included in the Foreign Exchange Instruction, which is expected to be published and implemented in January 2019. This means that the tourism allowance (capped at 40,000 dirhams per year) would increase as a function of the paid income tax.
The minimum level would remain at MAD 40,000 and the surplus would equal the percentage of the paid income tax and capped at MAD 100,000 or MAD 150,000 per person per year, depending on the threshold of the currency reserves.
Impact studies on Morocco’s foreign exchange reserves are being conducted to establish the linking percentage (e.g. 50 percent of the paid tax, with a cap and a minimum).
Authorized intermediaries, bureaux de change, and money transfer companies duly authorized to carry out manual exchange can issue a foreign exchange allocation of a maximum amount of MAD 40,000 each year to Moroccans residing abroad, Moroccan and foreign individuals residing in Morocco, dual nationals, and minor children holding foreign passports.