The accession of King Salman bin Abdulaziz Al Saud in January 2015 was the start of a new chapter for the Kingdom, and with the fall in global oil prices and continued regional turbulence there are undoubtedly challenges to be met. However, domestic stability, combined with the government’s commitment to major development projects and sustained focus on economic diversification, indicate a positive overall outlook for the country moving forward.
Despite the difficult global economic environment, sub-Saharan Africa achieved strong growth of more than 5% in 2014, mainly supported by private and public investments of more than 23% of global GDP. This was accompanied by the expansion of trade, communications and other services. Morocco could not remain unmoved by the strong economic...
The Finance Law of 2015 has put measures in place to reform the Moroccan tax system. These measures are aligned with the government’s General Tax Direction for the period 2012-17. Here, we present the key measures included in the Finance Law of 2015. 1. CORPORATE INCOME TAX (CIT) A. Extension of Casablanca Finance City (CFC) status to...
This chapter takes a closer look at the rules governing taxation in Morocco, examining in particular the changes made to pension insurance contracts and to the payment of value-added tax. It also contains a viewpoint by Kamal Mokdad, Managing Partner, Mazars Morocco.
Benefitting from strong ties to both Europe and the Arab world, Morocco has the right ingredients for future growth: low inflation, political stability, an industrial base and a favourable climate. With the outlook improving for Morocco’s trade partners and the lower price of oil – of which the country is a net importer – most observers expect growth to be even stronger in 2015, with estimates ranging from 4.4% to 5.0%.
Following successful completion of the Papua New Guinea liquefied natural gas project, the country is experiencing a surge of optimism about foreign investment and overall economic growth. PNG remains favoured by its traditional investors such as Australia, but it is increasingly a target for new players, including China and Japan.
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