New Exchange Rate Basis for Foreign Currency Income in 2024

The General Directorate of Taxes (GDT) has set the exchange rates for declaring income earned in foreign currencies for the year 2024.

In a notice addressed to regional, provincial directors and heads of departments, the GDT announced the following exchange rates:

• 10.756 MAD per euro,
• 9.959 MAD per US dollar,
• 12.733 MAD per British pound,
• 11.295 MAD per Swiss franc.

These rates are published annually during the same period to determine the taxable base for foreign-sourced income received in dirhams during the previous fiscal year.