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Rabat – Morocco’s customs revenues reached MAD 49 billion ($4.7 billion) at the end of the first half of 2022, increasing by almost 25% compared to the previous year.
According to recent data from Morocco’s state treasury (TGR), the customs revenues include custom duties on imported goods, Value Added Tax (VAT), and domestic consumption tax (TIC) collected on energy products.
The figure also factors in tax refunds of about MAD 173 million ($18.6 million), the TGR said in its latest report, noting that the net revenues from customs tariffs reached MAD 7.9 billion ($768.2 million) at the end of July 2022, a 23.4% increase compared to the end of July 2021.
Over the same period, net revenues from import VAT are set at MAD 31.53 billion ($3 billion), marking an annual increase of about 34%.
For the import taxes on energy products, the TGR specified that they rose by almost 3% year-on-year, settling at MAD 9.45 billion ($918.9 million) at the end of July this year.
The figure factors in tax refunds of MAD 137 million ($13.3 million), TGR explained.
Gross customs revenues have jumped by a little more than 25%, reaching more than MAD 49.05 billion ($4.7 billion) at the end of July.
In the past two months, Morocco’s customs authorities made national headlines for their decision to impose a new round of import tariffs on online purchasing.
Citing unfair competition, Morocco’s customs authorities said the measure intended to crack down on the illicit trafficking of goods that used to exploit regulatory loopholes to benefit from tax exemptions on import duties.
Further explaining the rationale behind the decision, the country’s customs authorities pointed out that foreign platforms made gross revenues of more than MAD 1 billion ($99 million) in 2021 without paying taxes by offering customers unfairly competitive prices.
Read Also: Starting July 1, Morocco Will Impose New Import Tariffs on All Online Purchases
