Casablanca – Morocco’s 2026 Finance Bill marks a decisive step in the country’s ongoing effort to modernize its fiscal and customs systems. Building on reforms initiated since 2021, the new draft budget law introduces a series of measures designed to strengthen transparency, improve traceability, expand the tax base, and align Morocco’s legal framework with global standards — all while supporting industrial competitiveness and environmental transition.

The measures outlined in the bill, detailed in the government’s budget execution and three-year macroeconomic framework report, reflect a clear priority: ensuring that fiscal policy becomes a lever for economic transformation rather than a constraint.

A stronger customs framework: Traceability and control

At the customs level, the 2026 Finance Bill proposes significant structural adjustments aimed at improving monitoring mechanisms, combating fraud, and reinforcing the protection of domestic industries.

One of the most notable innovations is the introduction of a marking system for petroleum products, developed in partnership with the Ministry of Energy Transition and Sustainable Development. This measure will enable tighter control over the hydrocarbons market, ensuring that all products circulating in the national market comply with fiscal and environmental standards. It also seeks to reduce illicit trade and revenue losses resulting from fuel smuggling.

The bill also expands the scope of fiscal marking, previously limited to beverages and tobacco, to include tobacco derivatives and sugar-based products. This extension aims to strengthen consumer protection, enhance traceability, and bring Morocco’s excise tax system in line with international best practices governing the monitoring of products subject to internal consumption taxes (TIC).

Another major reform is the preparation of a carbon tax, a cornerstone of Morocco’s climate strategy. Developed in consultation with the Ministry of Industry and Trade and the Moroccan Agency for Energy Efficiency, this initiative seeks to align customs and fiscal instruments with the country’s environmental objectives and to prepare local industries for emerging international regulations such as the EU’s Carbon Border Adjustment Mechanism.

The bill further confirms the continuation of the reform of excise taxation on cigarettes, which began five years ago and is set to conclude in 2026. The reform introduces a gradual, predictable adjustment of tax rates to ensure better control over the sector and to stabilize fiscal revenues from tobacco products.

Other customs-related provisions focus on the modernization of trade regulation. The legal framework governing precious metals and gemstones will be revised, accompanied by the establishment of a new regulatory status for refiners, aimed at ensuring traceability and compliance with quality standards.

Meanwhile, the Public Debt Recovery Code will undergo partial reform, particularly in relation to collection costs, in coordination with the Treasury of the Kingdom (TGR). This update is intended to improve efficiency in recovering public claims and optimize state revenues.

The tariff schedule for pharmaceutical imports—specifically Chapter 30 of the customs tariff—will be adjusted to correct market distortions, secure domestic supply, and encourage local production. Similarly, certain import duty rates will be modified to bolster local industrial protection and encourage investment in new manufacturing units.

Fiscal modernization: Integration and simplification

On the fiscal front, the 2026 Finance Bill focuses on promoting formalization, improving the business environment, and ensuring coherence between national legislation and international standards.

A central goal of the reform is to integrate informal production units into the formal economy. To achieve this, the government plans to expand and refine the withholding-at-source system, a key mechanism to promote tax transparency and limit fraud. By simplifying compliance for small operators and tightening control mechanisms, authorities aim to gradually reduce the size of the informal sector, which continues to weigh heavily on competitiveness and tax equity.

Another priority is the review of fiscal incentives for corporate restructuring. The bill proposes simplifying existing measures, introducing clearer guarantees, and establishing new monitoring mechanisms to make restructuring operations more transparent and effective. This is expected to improve business confidence and support companies facing economic transitions or mergers.

The third major fiscal axis involves clarifying and harmonizing tax rules. The government intends to adjust certain provisions governing the calculation of the tax base to eliminate ambiguities and inconsistencies that have led to differing interpretations. The objective is to strengthen legal certainty, foster a more cooperative relationship between taxpayers and the tax administration, and align Moroccan tax practices with international norms on good governance and fiscal compliance.

Toward a transparent and competitive fiscal system

Through these combined reforms, Morocco’s 2026 Finance Bill sets the stage for a more transparent, fair, and modern fiscal framework — one capable of supporting industrial development, promoting environmental sustainability, and attracting new investment.

The government’s approach appears to balance short-term revenue needs with long-term structural goals: integrating informal activity into the formal economy, protecting domestic production, and aligning the country’s fiscal instruments with its commitments to sustainable growth.

If effectively implemented, the 2026 Finance Bill could reinforce Morocco’s position as one of the most reform-oriented economies in the region — a country steadily modernizing its fiscal system while maintaining the delicate balance between economic competitiveness and social responsibility.