Income tax on rent, worked example, in Morocco
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Notes
1 The property is jointly owned by husband and wife.
2 Exchange rate used: 1.00 USD = 9.85 MAD
3 A standard deduction of 40% is allowed when calculating taxable income to account for income-generating expenses.
4 Rental income earned by nonresident individuals is taxed at progressive rates.
INCOME TAX |
|
TAXABLE INCOME, MAD (US$) | |
Up to 30,000 (US$3,046) | |
30,000 - 50,000 (US$5,650) | 10% on band over US$3,046 |
50,000 - 60,000 (US$6,091) | 20% on band over US$5,076 |
60,000 - 80,000 (US$8,122) | 30% on band over US$6,091 |
80,000 - 180,000 (US$18,274) | 34% on band over US$8,122 |
Over 180,000 (US$18,274) | 38% on all income over US$18,274 |
Source: Global Property Guide |