Morocco records 295 billion dirhams tax revenue in 2025, exceeding fiscal target

The Moroccan General Directorate of Taxes reported that gross tax revenues for 2025 amounted to around 295 billion dirhams, an 18.9% increase over 2024 and surpassing the 2025 Finance Law target by 13.8%. Corporate tax was the largest contributor, generating over 100.27 billion dirhams (34% of total revenue) and rising 30.6% from the previous year. Income tax revenue reached 70.38 billion dirhams (up 9%), VAT 70.89 billion dirhams (up 15%) and registration fees and stamps 28.76 billion dirhams (up 11%).

Tax refunds, deductions and adjustments totaled about 26 billion dirhams, a 13.8% rise, achieving 186.5% of the set target. Net tax revenues amounted to 269.98 billion dirhams, a 19.4% increase, fulfilling 109.9% of the Finance Law objectives. The net revenue composition was 35.8% from corporate tax, 25.9% from income tax, 18.7% from VAT and 10.7% from registration fees.