Tax revenues up 12.3% at the end of April
Hibapress
Tax revenue increased, year-on-year, by 12.3% for the first four months of 2024, showing an achievement rate of 37.9%, according to a document from the Ministry of Finance. Economy and finance on the situation of Treasury expenses and resources (SCRT).
Reimbursements, tax reliefs and restitutions, including the share borne by local authorities, amounted to 5.4 billion dirhams (MMDH), almost the same level recorded at the end of April 2023, specifies the ministry.
In detail, corporate tax (IS) revenue recorded an achievement rate of 45.3% and an increase of 18.9%, mainly due to the improvement in revenue from the regularization supplement (+2 .3 billion dirhams), the first deposit (+0.7 billion dirhams) and the corporate tax withheld at source on the proceeds from shares, fixed income investments and remuneration allocated to third parties (+0.9 billion dirhams), reported the same source.
As for income tax (IR) revenue, they reached an achievement rate of 39.2% and showed an increase of 7.7%, essentially reflecting an improvement in revenue generated by IR. on salaries (+0.5 billion dirhams), IR on land profits and fixed income investment products (+0.5 billion dirhams)
Value added tax (VAT) revenues, for their part, had an achievement rate of 34.3%. These revenues increased by 3.8 billion dirhams, driven by domestic VAT revenue (+2.9 billion dirhams) and, to a lesser extent, by that of import VAT (+0.9 billion dirhams). ).
Regarding customs duty revenue, they recorded an achievement rate of 32% and an increase of 9.1%, linked in particular to the resumption of imports in April, indicates the ministry, adding that the revenue from internal consumption taxes (TIC) reached an achievement rate of 32.2% and increased by 7.4%, covering an improvement in ICT on energy products (+0.7 billion dirhams) and a drop in those on tobacco (-0.2 billion dirhams).
As for registration and stamp duties, their revenues showed an achievement rate of 44.3% and increased by 4.6%.
The SCRT is the statistical document which presents, on behalf of the Ministry of Economy and Finance, the results of the execution of the forecasts of the LF with a comparison with the achievements of the same period of the previous year.
While the situation produced by the General Treasury of the Kingdom (TGR) has a fundamentally accounting nature, the SCRT apprehends, as recommended by international standards in terms of public finance statistics, the economic transactions carried out during a budgetary period in describing, in terms of flows, ordinary revenue, ordinary expenditure, investment expenditure, the budget deficit, the financing need and the financing mobilized to cover this need.
