At the end of May 2024, net VAT revenue stood at 37.5 billion dirhams, distributed at the rate of 23.070 billion dirhams for import VAT and 14.442 billion dirhams for domestic VAT, making of this tax the primary source of revenue for the general budget of the State.
At the end of May 2024, and in comparison with the same period of 2023, the execution of the finance law, on the basis of revenue collected and expenditure issued, shows, according to the monthly statistics bulletin of public finances of the general treasury of the Kingdom relating to the month of May 2024, an increase in gross revenue of 13.6%, coming from the increase in net customs revenue of 9.5%, taking into account reimbursements, tax reliefs and restitutions of 50 million dirhams at the end of May 2024 compared to 30 million dirhams a year earlier.
This also concerns the reduction in the internal consumption tax (TIC) on manufactured tobacco (-1.1%) and the increase in other TICs (+21.2%), the increase in net revenue from domestic taxation of 14.8%, taking into account tax reimbursements, reliefs and restitutions supported by the general budget which amounted to 4,709 million dirhams at the end of May 2024 compared to 4,568 million dirhams a year earlier and the increase in non-tax revenue by 26.2% due in particular to the increase in payments from special accounts of the Treasury to the general budget (7,451 MDH against 7,030 MDH), monopoly revenues (3,767 MDH against 2,958 MDH) and revenues to mitigate the expenditure of the debt (2,488 MDH compared to 503 MDH), combined with the drop in assistance funds (554 MDH compared to 972 MDH).
Regarding revenues Net revenues from VAT and those relating to import VAT stood at 23,070 million dirhams at the end of May 2024 compared to 21,528 million dirhams at the end of May 2023, recording an increase of 7 .2% or +1,542 million dirhams. VAT on energy products, for its part, recorded a drop of 8.2% or -364 million dirhams and that on other products an increase of 11.2% or +1,906 million dirhams.
Also, with regard to net revenues generated by domestic VAT at the end of May 2024 stood at 14,442 million dirhams compared to 10,641 million dirhams at the end of May 2023, up 35.7% or +3,801 million dirhams, taking into account the reimbursements supported by the general budget which were 3,016 million dirhams at the end of May 2024 compared to 3,302 million dirhams a year earlier, it being specified that at the end of December 2023, the VAT reimbursement arrears were was 32.9 billion dirhams.
