Morocco – Personal Services Income – Individual Taxpayer Identification Number (ITIN) ONLINE.
Individuals who have their tax residence in Morocco are subject to an individual income tax on their worldwide income . Individuals not having their tax residence in Morocco are subject to tax only on Moroccan -sourced income .
There is no convention on this subject presently in force between the United States and Morocco .
|Progressive income tax||From 0 to 38%|
|From MAD 50,001 to 60,000||20%|
|From MAD 60,001 to 80,000||30%|
|From MAD 80,001 to 180,000||34%|
|Above MAD 180,000||38%|
No inheritance taxes are levied in Morocco . The transfer of immovable property is subject to a 20% withholding tax but gifts of real property between parents and children are exempt from taxation.
Since 1869, Monaco has not levied a personal income tax on its residents. 1 To be considered a resident, one must intend to stay longer than three months in a year.
Moroccan–American Treaty of Friendship
|Moroccan–American Treaty of Friendship (Treaty of Marrakesh), 1786–1787|
|Signed||28 June 1786, 15 July 1786|
|Original signatories||Morocco United States|
In 1777, Morocco was the first country in the world to formally acknowledge the United States as an independent nation. It is also crucial to note that Morocco has been a loyal and indispensable American ally during these trying political times in the Maghreb, of which Morocco is an integral part.
USA was declared as sovereign nation by Morocco in a trade treaty made between Morocco and other notions In December 1777, Moroccan sultan Muhammad III included the United States of America in a list of countries to which Morocco’s ports were open in a reason to diversify foreign trade market after more than 30 years
Living in the world’s lowest income tax countries United Arab Emirates . Income tax: 0% Price of a can of Coke: US $0.83. Western Sahara. Tax rate: 0% Bermuda . Tax rate: 0% Somalia. Tax rate: 0% The Bahamas . Income tax: 0% Monaco . Tax rate: 0% Andorra . Tax rate: 10% Belize. Tax rate: 25%
Tax-Free Countries The Bahamas . The Bahamas imposes no income tax on its residents and receives most of its revenue from tourism and its robust offshore industry. The British Virgin Islands. Brunei. The Cayman Islands. Monaco . Oman. Turks and Caicos. Vanuatu.