Morocco's Draft Finance Law for 2023 Includes Major Corporate Tax Rate Changes

Morocco's Ministry of Finance has published the draft Finance Law for 2023. One of the main measures of the draft law is for the introduction of a new simplified corporate income tax rate system that includes:

• a standard corporate income tax rate of 20%;
• a higher corporate income tax rate of 35% for companies with annual net profits of MAD 100 million or more; and
• a higher corporate income tax rate of 40% for financial (credit) institutions and similar bodies and insurance and reinsurance u…