The Organization of Economic Cooperation and Development (OECD) spotlighted, on Wednesday, the efforts and progress made by Morocco in tax transparency.
In a report, the organization noted that the Kingdom has a general regulatory framework that ensures the availability of relevant information, as well as the right to effective access and exchange of such information for tax purposes.
According to MAP, the Kingdom was assessed as “significantly compliant” based on three factors “availability of identity and asset information”, “handiness/availability of banking information” and “accessibility of information “, the same source said.
Morocco achieved an “obedient” rating for “accounting data”, “rights and protections of individuals”, “information exchange mechanisms”, “confidentiality” and “rights and protections of taxpayers and third parties.”
The Kingdom has been very active since the 2016 report in ratifying treaties against double taxation, which helped its ratings to move from “Substantially Compliant” to “Compliant”.