Morocco-EU

Morocco permanently removed from EU gray list

APA - Rabat (Morocco)

Morocco is no longer on the European Union (EU) gray list of non-cooperative jurisdictions for tax purposes, the Economy and Finance Ministry says in a statement sent to APA.

This decision was taken at the EU Foreign Affairs Council, held on Monday and which adopted its conclusions on non-cooperative jurisdictions for tax purposes, the ministry says, stressing that the EU Council’s conclusions are the final stage of the procedure, which follows the green light from the ambassadors of the EU member states and confirms that the Kingdom is definitively removed from the gray list of the EU and therefore becomes “Green Listed.”

This development shows that the reforms undertaken by the Kingdom in tax matters are consistent with EU conditions and international standards, and perfectly illustrates the positive cooperation between the Moroccan and European authorities on this subject.

As a reminder, Morocco is one of the countries that are committed to aligning their tax systems with good governance standards, as part of improving tax transparency at the global level.

As such, several legislative provisions have been adopted depending on the nature of each tax regime, which buttresses the reform process initiated since the finance law for the year 2018.

Throughout the process of evaluating its tax system, Morocco is pleased to have succeeded in convincing the OECD and its European partners of the realism of its vision, which consists in proving its firm determination to comply with the standards of good fiscal governance by taking the necessary measures in a transparent and gradual manner and, on the other hand, ensuring the safeguard of its socio-economic interests.

At the end of this evaluation process, Morocco expressed its satisfaction with the EU decision to definitively withdraw it from its “gray” list. The decision shows that the measures taken are hailed by its partners and that the efforts made are perfectly in line with good tax governance and with international standards, the ministry concludes.


HA/fss/abj/APA

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