This article was automatically translated from HIBAPRESS, the Arabic version:
This article was automatically translated from HIBAPRESS, the Arabic version:
Heba Press
The Ministry of Economy and Finance indicated that tax revenues amounted to 243.75 billion dirhams at the end of October 2024, up 12.5% compared to the same period last year.
The ministry explained in a document relating to the state of expenditure and resources of the treasury that these revenues recorded a completion rate of 90% compared to the expectations of the finance law, recording a regular growth of 27.1 billion dirhams (plus 12.5%).
The same source explained that net payments, settlements and tax refunds, including the share borne by local authorities, amounted to 19.6 billion dirhams, compared to 13.6 billion dirhams at the end of October 2023.
Depending on the nature of levies and taxes, the most notable change in tax revenue showed that corporate tax recorded a completion rate of 95.4%, an increase of 6.5 billion dirhams. .
This development is mainly explained by the improvement in revenue from the first three tranches (plus 3 billion dirhams), the additional payment (plus 2.3 billion dirhams), the corporate tax withheld at source on the production of investments with stable income, and the bonuses granted to others (plus 0.9 billion dirhams).
For their part, income tax revenue recorded a completion rate of 91.6%, and an increase of 5.9 billion dirhams, which mainly reflects the improvement in revenue generated by tax. on income in terms of salaries (plus 2 billion dirhams) and real estate profits (plus 2 billion dirhams). 0 billion dirhams), 5 billion dirhams), as well as income tax withheld at source on the basis of the return on permanent income investments and profits from real estate transfers (plus 0.7 billion). dirham).
As for value added tax revenues, they recorded an increase of 8.1 billion dirhams, with a completion rate of 84 percent. These revenues benefited from the increase in the value added tax on imports (plus 12.1 billion dirhams) and. those related to the tax on imports. Domestic added value (+13.2 billion dirhams), reflecting the recovery in consumption and the impact of measures taken within the framework of the 2024 finance law.
Furthermore, the ministry indicated that revenue from internal taxes on consumption recorded a completion rate of 91.3% and an increase of 3.1 billion dirhams, mainly resulting from the improvement of the internal tax on consumption. consumption of energy products (plus 12.6 billion dirhams). and those linked to Tobacco (plus 7.3 billion dirhams) and other products (plus 26.6%).
Regarding revenue from customs duties, their completion rate reached 96.4%, an increase of 2 billion dirhams, while revenue from registration and stamp duties increased by 1 billion dirhams. with a completion rate of 91%, reflecting the increase in registration fees (plus 700 million dirhams). The tax on insurance contracts (plus 147 million dirhams), and the special annual tax on automobiles (plus 127 million dirhams).
The document relating to the state of expenditure and resources of the Treasury is considered a statistical document which presents the results of the implementation of the expectations of the Finance Law by adopting a comparison with the achievements recorded during the same period of the previous year.
It should be noted that if the position document issued by the General Treasury of the Kingdom is characterized by an accounting nature, the position document on carryovers and treasury resources addresses, as provided for by international standards in terms of statistics of public finances, economic transactions carried out. during the budget period by describing regular revenue streams, recurrent expenditures, capital expenditures, budget deficits, financing needs and the financing mobilized to cover these needs.
