In accordance to the article 170-IV of Moroccan Tax Code, companies which consider that the CIT advances paid for a financial year cover the tax for which they will be liable for that financial year, may, within a period of 15 days, request an exemption from the payment of the remaining instalments for the same financial year. Therefore, companies wishing to benefit from this provision have until 15 December 2023 to opt for this option.
On the other hand, in the event that the actual CIT to be paid at the end of the financial year is more than 10% higher than the CIT advances previously paid, the penalties and surcharges are applied to the CIT tax that should have been paid.
For example, a company which have paid three (3) CIT advances during 2023 amounting 300 000 MAD, opts for an exemption from paying the 4th advance.
NAZALI TAX & LEGAL