According to Assaba“influencers would have invested in this segment of electronic media which store sums of money without being linked to real bank accounts, to pay part of their income on the web, far from the eyes of the tax authorities and the Office of changes”. To put an end to this tax evasion, “the competent authorities carry out audit procedures on the probable income of these influencers based on their activities on the web, and compare them to those declared and transferred to their real accounts at the interior of the country”.
Read: Tracking fraudsters: Moroccan influencers in the crosshairs of the tax authorities
These audits, “carried out in collaboration with the financial authorities of certain European countries, target the activities and financial circuits of around ten influencers, some of whom enjoy great popularity beyond Moroccan borders”, specifies the same source, adding that “it was noted that malfunctions and irregularities marred the management circuits of income obtained thanks to the services offered by influencers and transferred to the cryptocurrency sector, in particular Bitcoin, the price of which has came close to $100,000 in recent weeks.”
Read: Moroccan influencers involved in illegal real estate purchases abroad
The competent financial authorities are tracking more than 120 million dirhams that these fraudulent influencers allegedly converted into cryptocurrency. According to a press release from the Foreign Exchange Office, they face prison sentences of up to three years, as well as heavy fines.
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