Wednesday, March 27, 2013

France and Morocco Enhance Tax Links

In attempts to improve Morocco's improve tax system and in order to attract investors, Morocco recently lowered corporate and individual income tax rates and simplified tax legislation. The aim of the Moroccan Government is to improve tax transparency and to enhance relations between taxpayers and the tax administration. It is hoped that once the improvements are completed, the tax system will be in line with the best international standards.

An area seen as being very important is the tax relationship between Morocco and France. According to Morocco’s Director General of Taxation Abdellatif Zaghnoun (pictured left), there is "very intense" cooperation between France and Morocco in the area of taxation and customs.

Following a recent international gathering in Paris, Zaghnoun alluded to the "unique" and "multi-faceted" relationship between the Moroccan and French Finance Ministries. Zaghnoun explained that regular meetings take place between the two tax administrations, to identify areas for further cooperation and development and to share expertise and knowledge.

Zaghnoun stressed that there exist close tax ties between Morocco and France, and the Government's commitment is to strengthening these relations and to encouraging mutual investment. The Moroccan Government is constantly striving to introduce fiscal measures aimed at facilitating investment in and encouraging French investors to Morocco, Zaghnoun said.

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