The 2026 Finance Law introduces a specific return for foreign-source securities income and gains that have not been subject to withholding tax in Morocco. The return must be filed before 1 April of the year following that in which the income was received or the gain realised, with simultaneous payment of the tax.
Documents to gather
The DGI requires the taxpayer to attach evidence of the transaction together with a certificate from the foreign tax authority stating the taxable base and the tax paid abroad. These items are essential where the taxpayer claims a credit for foreign tax under the General Tax Code or a double taxation treaty.
Potentially concerned are dividends, interest and gains on the disposal of securities held abroad by a person who is tax resident in Morocco. Tax residence, the precise nature of the income and the applicable treaty must each be verified separately.
In practice
Taxpayers should plan ahead for obtaining foreign certificates, which are sometimes issued several weeks after the year end. Bank statements alone do not necessarily replace the document requested by the administration.
The new return does not, in itself, regularise the position under foreign exchange regulations. Tax obligations and those owed to the Foreign Exchange Office are distinct. A complete file must therefore reconcile the income declared, the evidence of foreign tax, the banking movements and, where applicable, the foreign exchange authorisations or declarations.
Sources
- Directorate General of Taxes — Circular note no. 737 on the tax measures of Finance Law no. 50-25 for the 2026 budget year, 2026-03-09.
- Directorate General of Taxes — Circular note no. 737 — full text (74 pages), 2026-02-27.
- Le Desk — 2026 Finance Law: all the tax measures explained by the DGI, 2026-02-27.
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This publication is provided for information purposes only and does not constitute personalised tax or legal advice.