NewsTourism endowment increases to 100,000 dirhams per year

Tourism endowment increases to 100,000 dirhams per year

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The 2022 version of the General Instruction on Foreign Exchange Operations provides several liberalization and easing measures, both in terms of current transactions and in terms of capital transactions.

While the tourist allocation was until then 45,000 dirhams, the foreign exchange office has just announced the establishment of a global allocation for personal travel of 100,000 dirhams increased by an additional allocation of 30% of the IR, all capped at 300,000 dirhams per calendar year and per person.

This endowment can be used during personal trips abroad of any kind, whether tourist, religious or medical, says the Office.

For its part, the e-commerce endowment is now capped at 200,000 dirhams (determined on the basis of 100% of the tax paid), in favor of Moroccan legal persons who do not have an account in foreign currency or convertible dirhams, making it possible to pay imports of international payment card services.

The Foreign Exchange Office has also announced the increase to two hundred million dirhams of the ceiling for annual transfers for investments abroad by legal persons.

As part of the support and encouragement of young innovative companies in new technology, the office has decided to increase the e-commerce endowment for start-ups to one million dirhams, with the possibility of making investments at abroad.

It is also a question of reducing the rules for managing accounts in foreign currencies and convertible dirhams for exporters by offering them the possibility of paying for imports of goods and services in advance or with a deposit rate higher than the authorized ceiling and the possibility of paying by international payment card for all imports of services for the exporter’s business needs.

As part of the new measures, the foreign exchange office will also introduce a flexibility of 5% in terms of deposit payment to avoid blocking if the authorized deposit rate is exceeded.

The Moroccan Blog
The Moroccan Blog
The Moroccan Blog is an English based newsblog dedicated to Morocco. You can find here all news from Morocco across a variety of topics: Arts & Culture, Economy & Business, Lifestyle, Moroccan Sahara, MRE, Society, Tourism & Travel and more.

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