Code Général des Impôts - Retenue à la source sur dividendes (art. 13, 19-IV-B, 247-XXXVII-C)

Dividend withholding tax is 11.25% in 2026, dropping to 10% in 2027 - or lower under a tax treaty.

Dividends paid by a Moroccan company are subject to a withholding tax at the rate in force ON THE PAYMENT DATE (the LF 2025 abolished the old 'year of profit origin' rule): 12.5% in 2025, 11.25% in 2026, 10% from 2027 onwards. The WHT is final (libératoire) for non-residents without a permanent establishment in Morocco. It is withheld by the distributing company / paying agent and remitted to the Treasury within the month following payment. Moroccan-resident IS-liable companies are exempt (100% mère-fille deduction). Reduced treaty rates apply on production of a tax residence certificate + beneficial ownership.