The DGI urges businesses to declare unpaid invoices electronically by April 1, 2025. Companies with turnover between MAD 10 million and MAD 50 million must report unpaid invoices after January 1, 2024. Larger businesses exceeding MAD 50 million must submit quarterly declarations. Penalties apply for unpaid invoices after January 1, 2025, and businesses must report even without overdue invoices. Necessary documents are available on the DGI’s website.
The Direction Générale des Impôts (DGI), Morocco’s tax authority, has emphasized the necessity for businesses to electronically declare their 2024 tax information by April 1, 2025. Companies with annual revenues ranging from MAD 10 million to MAD 50 million (approximately $1 million to $5 million) must include all unpaid invoices issued post-January 1, 2024, in their declarations.
For businesses with a turnover exceeding MAD 50 million, a quarterly declaration is compulsory, due at the end of each quarter. The DGI cautions that penalties will be enforced for all unpaid invoices issued from January 1, 2025, irrespective of the invoice amount being MAD 10,000 (approximately $1,000) or less.
Moreover, businesses must fulfill their reporting obligations even in the absence of overdue invoices, as stated by the DGI. To assist in compliance, companies can access the relevant guidelines and data exchange documents from the DGI’s official website, promoting ease of adherence to these requirements.
In conclusion, the DGI has established clear obligations for businesses regarding the declaration of unpaid invoices. Companies are advised to electronically submit their 2024 tax declarations and pay any applicable fines before the set deadline. The requirement for regular reporting, especially for larger businesses, reflects the authority’s commitment to enhancing compliance and accountability in the tax system.
Original Source: www.moroccoworldnews.com
