tax receipts increased by 4.1% at the end of June

tax receipts increased by 4.1% at the end of June

Tax receipts increased by 4.1% during the first six months of this year, according to the Ministry of Economy and Finance.

These revenues showed an achievement rate of 53.6% compared to the forecasts of the finance law (LF), indicates the ministry in the situation of the expenses and resources of the Treasury (SCRT) of June 2023.

Reimbursements, tax rebates and refunds, including the share borne by local authorities, amounted to 7.9 billion dirhams (MMDH) against nearly 8.6 billion dirhams, specifies the same source.

By nature of taxes and levies, the ministry reports that corporate tax (IS) recorded a realization rate of 57.7% and remained at the same level observed in the first half of 2022. This change results in particular from the improvement in revenue from the two installments of 727 million dirhams (MDH) and the tax audit of 585 MDH, which offset the drop in the additional adjustment of 1.1 billion dirhams.

Income tax (IR) posted a realization rate of 56.5% and an increase of 6.4%, thanks in particular to revenue generated by income tax on salaries (+1.4 billion dirhams), while the realization rate of value added tax (VAT) inside was 50%.

Receipts in this respect improved by nearly 18.7%, in a context marked by the improvement in household consumption. This evolution of the VAT inside covers an increase in gross receipts of nearly 1.2 billion dirhams and a drop in reimbursements of 798 million dirhams.

With regard to VAT on imports, it posted an achievement rate of 48.7% and a drop of 3.7%, particularly in relation to the measures taken to support the agricultural sector.

As for domestic consumption taxes (ICT), they recorded an implementation rate of 47.5% and a slight increase of 0.3%, covering an improvement in ICT on tobacco (+193 MDH) and a decline in those applied to energy products (-212 MDH).

Customs duties were carried out at 50.9% and increased by 11.2%, in line with the increase in imports (+2.8% at the end of May 2023).

The rate of realization of revenue from registration and stamp duties stood at nearly 70%. These receipts increased by 13.8%.

The SCRT is the statistical document that presents the results of the execution of the forecasts of the LF with a comparison with the achievements of the same period of the previous year.

While the situation produced by the General Treasury of the Kingdom (TGR) is fundamentally accounting in nature, the SCRT apprehends, as recommended by international standards for public finance statistics, the economic transactions carried out during a budgetary period by describing, in terms of flows, ordinary revenue, ordinary expenditure, investment expenditure, the budget deficit, the financing requirement and the financing mobilized to cover this need.


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