Moroccans, time is running out for the declaration of assets abroad

The regularization of taxpayers, as well as the declaration of liquid assets held abroad, are coming to an end. These two operations had been launched by the Foreign Exchange Office and the General Directorate of Taxes (DGI).

Taxpayers have until December 31, the final deadline, to regularize and declare their liquid assets held abroad. After this date, offenders will be exposed to severe financial penalties, coupled with increased controls. Many taxpayers have not yet fulfilled these obligations. Taxpayers often tend to act at the last minute, especially after taking advantage of the holidays to gather the documents necessary for their declaration, observes a chartered accountant. Which leads the daily newspaper to say The Economist that the Foreign Exchange Office and the General Directorate of Taxes (DGI) are expecting a large influx of declarations in the last months, or even the last weeks of the year.