Morocco's Ministry of Economy and Finance has published the draft Finance (Budget) Law for 2018. The main tax-related measures include:

• The removal of the 30% corporate tax rate bracket (MAD 1 million to 5 million), resulting in the following progressive corporate tax rates:
  • up to MAD 300,000 - 10%
  • MAD 300,001 up to MAD 1,000,000 - 20%
  • over MAD 1,000,000 - 31%
• The introduction of an exemption from registration duty on company formation, capital increases, and the transfer of non-listed company shares;
• Amendment to the company reorganization regime to allow the carry forward of losses derived from the depreciation of fixed assets in the case of a merger; and
• New rules for advance private tax rulings to enable ruling requests in respect of legal and financial arrangements relating to planned investment projects; restructuring of companies and groups of companies situated in Morocco; and operations between directly or indirectly related companies situated in Morocco.

Click the following link for the draft Finance Law (French language). Subject to parliamentary approval, the draft measures will generally apply from 1 January 2018.