Morocco’s customs revenues reached 51.8 billion MAD during the first seven months of 2024, an increase of 9.6% year-on-year, according to Morocco’s General Treasury (TGR).
The total receipts generated from customs duties, imports value-added tax (VAT), and domestic consumption tax on energy products, which include tax refunds and adjustments, are estimated at 69 million MAD, according to the latest Monthly Public Finance Statistics Bulletin from TGR.
By the end of July 2024, net customs duties reached 9.1 billion MAD, a 10.8% increase from 8.216 billion MAD in 2023.
Import VAT revenues reached 32.792 billion MAD, representing a 9.3% increase.
While the value-added tax (VAT) on energy products decreased by 8%, it increased by 13.7% for other goods.
Net income from the domestic consumption tax on energy products grew by 9.4%, reaching 9.911 billion MAD, after accounting for 41 million MAD in both refunds and adjustments.
The gross customs revenues for the period totaled 51.869 billion MAD, a 9.7% rise year-on-year.