The Office des Changes has launched extensive investigations into Moroccan and foreign technology companies over suspicious import transactions. The probe, which targets firms specializing in digital services and modern technologies, follows authorizations for large financial transfers abroad.
Inspectors are scrutinizing irregularities in the invoicing of products and services by foreign companies, particularly in France, sources familiar with the matter told Hespress. The investigation, based on information from the office’s Licensing and Relations with Users Department, seeks to verify compliance with foreign exchange laws and prevent potential abuse of financial transfers.
Authorities have requested commercial documents from the Customs and Indirect Tax Administration, including invoices, contracts, and customs declarations, to ensure the legality of the transactions. Initial findings suggest possible collusion between local companies and foreign suppliers to inflate prices for IT systems, storage devices, and maintenance services, increasing the amount of foreign currency transferred legally.
The audit also includes a review of transfer pricing practices. In collaboration with the Directorate General of Taxes and the Customs Administration, inspectors are evaluating tax declarations from Moroccan and foreign firms to detect discrepancies in valuations between parent companies abroad and their local subsidiaries.
Last year, the Office des Changes conducted 353 investigations across various economic sectors, including 246 probes into companies from industries such as manufacturing, textiles, and IT services, according to its annual report. Additionally, 54 audits focused on currency exchange companies, and 53 examined compliance with anti-money laundering and counter-terrorism financing regulations.
The ongoing inspections underscore the Exchange Office’s commitment to ensuring the integrity of financial transactions and protecting the national economy from illicit practices.
The post Moroccan authorities probes tech companies over suspicious import transactions appeared first on HESPRESS English – Morocco News.
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