PLF 2025: Retirement, games of chance, meat, cannabis… most of the amendments adopted

The Committee on Finance, Planning and Economic Development in the House of Councilors adopted by majority the first part of the finance bill (PLF) for the 2025 financial year. During a meeting, Monday evening, the first part of the bill was approved by 12 votes for, 2 against and one abstention.

Here is a list of the main amendments made:

Taxes

• Gradual tax exemption for retirement pensions : Exemption of 50% of IR in 2025 and total in 2026, applicable to basic pensions only.

• Taxation of income games of chance :
  • Withholding tax of 30% for winnings from online games operated by foreign companies.
  • Solidarity contribution of 2% for revenues from games of chance for Moroccan operators.
  • Reduction in forestry tax: Reduction of the tax on imported wood from 12% to 6%.
• Reduction in the holding rate of operations intra-group transfer of fixed assets from 80% to 2/3 of the share capital.
• Establishment of the fiscal neutrality for the capital gain of IS on transfers and contributions of fixed assets within the same group.
• 70% reduction on the capital gain linked to transfers of fixed assets until 2030, with a commitment to reinvestment within 36 months.
• Taxation terms land profits : Clarification of the rules for the transfer of property or real rights from financial assets to professional assets.
• Reduction of the tax on imported wood from 12% to 6%
• End of the tax amnesty on undeclared assets:amnesty of 5% for the regularization of undeclared assets, including in cash, will not be renewed after December 31, 2024. From January 1, 2025, the persons concerned will be subject to the IR rate of 38%.

Customs code and indirect taxes

• Modification of article 2 of the PLF to integrate the provisions relating to taxes on the importation of meats as adopted on October 18. This concerns the suspension of the collection of the import duty applicable to meat from animals of the species cattle, sheep, goats et camelina.
• Protection of national production of cannabis : Implementation of a maximum import duty of 200% to protect local production.
• Customs duties on safran : Increase in import duties from 30% to 40% to protect local production in the face of foreign competition, particularly from Iran and Pakistan.
• Customs duties on Honey : Cancellation of changes to the import tax for different containers of honey in order to support domestic production.

These amendments aim to balance tax measures, protect national production and promote a more equitable economic environment.