The sword of control targets the assets of Moroccans abroad

Moroccan financial authorities have shifted into high gear in tracking and cornering undeclared assets beyond the Kingdom's borders, announcing the end of the era of friendly facilities and exceptional opportunities offered by tax amnesty. The sights of the Exchange Office, in strategic coordination with the General Directorate of Taxes, are set on activating a firm control arsenal that is not limited to examining previous declarations, but extends to cross-referencing them with field databases using precise technical matching to detect any discrepancies or concealment in the volume of real assets held by resident individuals and companies.

This rigorous action is based on an integrated network of automatic financial information exchange agreements under the auspices of the Organisation for Economic Co-operation and Development (OECD), channels that have paved the way for control services to access bank account balances, investment portfolios,…