The DGI has set the average rates to be used to convert into dirhams income received in foreign currencies during 2025. This publication provides the reference to be used when preparing the corresponding tax returns in Morocco.

The published rates

For the four main currencies covered, the conversion bases are as follows:

  • 1 euro: MAD 10.55;
  • 1 US dollar: MAD 9.344;
  • 1 pound sterling: MAD 12.323;
  • 1 Swiss franc: MAD 11.271.

Who is concerned?

The publication is of particular interest to Moroccan tax residents who received, in 2025, salaries, pensions, rental income, business income or investment income denominated in a foreign currency. It is also relevant to those who have changed tax residence or who have income arising in several States.

In practice

The average tax rate published by the DGI must not be replaced by the bank rate observed on the date of each receipt where the return concerned requires this official basis. The nature of the income, its gross amount, any taxes paid abroad and the applicable tax treaty should be identified before carrying out the conversion.

Evidence of receipt and of foreign taxation should be retained. The currency conversion does not, on its own, determine entitlement to a tax credit or to a treaty exemption.

Sources

Aurion assists its clients with these procedures. → Contact us

This publication is provided for information purposes only and does not constitute personalised tax or legal advice.