Morocco’s House of Representatives (lower house) adopted, on Friday, by majority vote during a second reading, Finance Bill 60.24 for the 2025 fiscal year.
This bill was approved by 178 deputies, while 57 voted against it, and none abstained.
Several amendments, to which the government responded favorably, were incorporated into the bill. These include the total exemption of retirement pensions and annuities under basic retirement schemes (excluding those under supplementary retirement schemes) starting January 1, 2026, as well as a 50% reduction in the tax amount due on pensions and annuities received in 2025.
The amendments also involve subjecting income from foreign-origin online gambling winnings, paid by foreign companies, to income tax through a withholding tax set at 30%, and the introduction of a specific 2% solidarity contribution, which will also apply to Moroccan residents earning such winnings.
Additionally, the amendments exempt contracts and acts related to the creation of guarantees and mortgages from registration fees to ensure the payment of taxes, duties, and fees stipulated in the General Tax Code concerning the release and discharge of mortgages provided by the Tax Administration. This aims to ensure fiscal fairness and harmonize the treatment of contracts and acts related to guarantees overseen by the Tax Administration.
During the general and detailed discussion of the 2025 Finance Bill, the Minister of Economy and Finance, Nadia Fettah, emphasized that this project reflects the government’s commitment to strengthening the pillars of the social state.
She highlighted that employment is a government priority requiring more rapid investment in the next phase, noting that relying solely on businesses to create job opportunities for young people is insufficient.
For his part, the Minister Delegate in charge of the Budget, Fouzi Lekjaa, stated that the bill is based on assumptions grounded in precise technical and scientific data. He explained that the government allocated over 100 billion dirhams for social dialogue, medical coverage, and direct social assistance, in addition to direct housing aid and the resettlement of slum inhabitants.
The government has deliberately allocated approximately 10% of the gross domestic product (GDP) to be injected into the incomes of vulnerable social groups and the middle class, “reflecting its commitment to strengthening the social state,” he noted.
Regarding social dialogue, Lekjaa assured that the government allocated approximately 45 billion dirhams, “leading to significant salary increases, including 3,800 dirhams for doctors to address a long-standing issue, 3,000 dirhams for university teachers, and increases ranging from 1,500 to 4,800 dirhams for Ministry of National Education staff.”
Concerning the exemption of retirees from income tax (IR), the minister highlighted the importance of this reform, which affects a group that has dedicated its life to serving the nation, whether in the public or private sector. He noted that the financial impact of this measure amounts to 1.2 billion dirhams.
The post Lower House adopt 2025 Finance Bill in second reading appeared first on HESPRESS English – Morocco News.
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