Modification of the Bank Al Maghrib key rate used for the application of the financial penalty provided for in terms of payment deadlines

HIBAPRESS-RABAT

The General Directorate of Taxes recalls that Law No. 69-21 relating to payment deadlines provides that any infringement of the provisions relating to payment deadlines for commercial transactions is punishable by a financial fine set at the Bank Al Maghrib key rate applied at the end of the first month of late payment and 0.85% per month or fraction of the additional month of delay.

In this regard, it should be noted that the board of Bank Al Maghrib decided, during its meeting of June 25, 2024, to reduce the key rate by 25 basis points to 2.75% with an effective date from June 27, 2024.

Thus, invoices whose late payment period begins on June 1, 2024 are liable to the aforementioned monetary fine set at the new rate of 2.75% for the first month of delay.

As for invoices whose late payment deadline is before June 1, 2024, they remain liable to the financial fine set at the old rate of 3%.

For any request for information or assistance,

Please contact the DGI Assistance Center at SIMPL@tax.gov.ma

or by calling 05 37 27 37 27 (grouped lines).