Transcript MGI Audicis SARL Presenation

Mgi Mena Area
meeting
Casablanca
10 & 12 February 2016
Mohamed Boumesmar
www.audicis.ma
Some words about Morocco
₼
₼
₼
₼
Constitutional Monarchy
Market economy
Around 34 Millions pers
GDP:107 billion US $ in 2014
(0.17% of the world economy)
₼ Main revenues : Phosphates,
Agricultural products
exportation, cars, Tourism,
Transfers of migrants..
₼ Gdp per capita 3 190,3$US
₼ GDP Growth Rate averaged
4.36% (1999-2015)
₼ In Africa : 5th largest economy
and 5th most competitive
₼ 5
free-trade
agreements:
Agadir Agreement, E.U, USA,
Turkey, Arab League, (Canada
under discussion)
₼ New
African
economic
cooperation led by Morocco
(Sub-Saharan countries)
Some words about Morocco
Some words about Morocco
Port of Tanger Med 1 & 2
Noor 1 (solar energy 160 MW)
Casablanca Taramway
OCP Fertilizer fabrication
Some words about Morocco
Over than 14 large stadiums
Around 1500 Km of Highways
Over than 140 dams (around 2 per year)
Moroccan Trade relations
70%
16%
9%
5%
To meet the challenge of
persistent
poverty,
vulnerability and inequality
To reduce spatial
gender disparities
and
Economic development is
the only and urgent choice
for Morocco
Some words about Casablanca
₼ Original name : Anfa
₼ Founded by Berberians in 7th
century BC
₼ The largest city in Morocco
₼ 21% of Moroccan GDP
₼ Pressure of the rural immigration
₼ International
influence
(1942
Famous film : Casablanca
₼ Casablanca Conference in 1943
(second World War)
₼ Several influences
: Portugal,
Spanish, Arab, French …
Some words about Casablanca
Wilaya Place
United Nations Place
Some words about Casablanca
Some Moroccan HandiCrafts
Hassan II Mosque
Al Habbouss
Some words about business
About fiscal system
₼ Income Tax (IR) : Income and
profit od individuals and private
companies
₼ Corporate Tax (IS) : income
and profit for companies and
other legal entities
₼ Value Added Tax (TVA)
₼ Registration fees and stamp
duties
₼ Local tax….
Corporate income Tax
(CIT)
₼ CIT : common rate 30% and
10% and 20% for SME
₼ Free zone export : 0% during
the first 5 years, 8.75% for the
next 20 years and the common
rate after
₼ Exportation entities : 0% for
the first 5 years and 17,5% after
₼ Casa Finance City: 0% for the
first 5 years and 8.75% after
₼ Tangier Offshore : 500 $US per
year for the first 15 years
Some words about business
About VAT
∩ VAT applies to industrial, craft,
commercial and liberal activities,
as well as import operations.
∩ Retailers’ income is also taxable
when
their
turnover
accomplished during the year
exceeds or equals 2,000,000
MAD
∩ Common rate : 20% (7% for
certain consumer products
Income tax
∩ A progressive scale between
0% to 38%
∩ Some specific rates in certain
areas
∩ Some
exonerations
deductions
and
Some words about business
About International transactions
₪ Around 50 tax treaty of non
double taxation
₪ Withholding tax of 10% on
services deductible in the
country of origin
₪ Withholding tax on dividends
from 5% to 15% (depending on
treaties)
₪ For non double taxation
countries, the capital gains are
not taxable in Morocco but in
the residence of the seller
(Except
Real
estate
companies)
₪ Impact of the regulation of the
currency (Special Authority)
Some words about Audicis
About the partner (MB)
৺ 30
years
professional
experience and 20 years as
Professor in ISCAE for future
CPA (Auditing)
৺ Current Member of National
Accounting Board
৺ Current Member of National
Commission of Tax Appeal
৺ Former chairman of
standards
committee
Moroccan CPA Council
the
in
৺ MB launched the first 2 quality
control campaigns in Morocco
About the office
৺ Audicis was founded in 1997
by MB and two French CPA
৺ Audicis join mgi in 2009
৺ Currently 25 professionals
৺ 4 departments (Audit &
Organization, Tax and legal,
Accounting, Social and payroll)
৺ New and large offices in 2016
Some words about Audicis
Some words about Audicis
Some words about Audicis
Some words about Audicis
Some words about Audicis
THANK YOU
AND
WELCOMES YOU
IN CASABLANCA