2027 Finance Act: what changes for you, and when
Each year, the Finance Act sets the State's taxes, duties and appropriations for the next twelve months. The 2027 one does not exist yet: it is still being prepared. This page tracks its progress, explains the official stages, and lists the figures that remain the reference until the text is published in the Official Bulletin.
Where the text stands
Last checked :As of September 8, 2026, the 2027 Finance Bill has not been tabled in Parliament. It is still being prepared inside the government. No tax measure has been settled and no scale has changed. Detailed provisions will only become public when the bill is tabled, expected by October 20, 2026 at the latest.
A framework note is not a bill, and a bill is not a law. Until the text is voted and published, any figure presented as “the 2027 Finance Act” is a hypothesis, including in the press.
What is established so far
September 7 to 17, 2026
Budget arbitration meetings between the Budget Directorate and each ministry. This is the stage where envelopes are allocated, not where taxes are decided.
Business pressAugust 5, 2026
The Head of Government sent ministries the bill's framework note: four priorities, spending caps per department, an instruction to tighten operating costs and a preserved investment effort. The note contains no costed tax measure for households.
Business pressJuly 22, 2026
The Minister of Economy and Finance presented to the finance committees of both Houses the execution of the 2026 budget, the general framework for preparing the 2027 Finance Bill and the 2027-2029 three-year budget programming. This is the duty set out in article 47 of the organic finance law.
Official source
The timeline, stage by stage
These stages do not depend on the news cycle: they are set by the organic finance law. Knowing them keeps a press orientation from being read as a decision.
General framework presented to Parliament
Before July 31, 2026DoneArticle 47 of organic law 130-13: the government reports to the finance committees on current budget execution, the framework for the next one and the three-year programming. Done on July 22, 2026.
Preparation inside the government
August to October 2026Under wayFramework note to ministries, departmental budget proposals, arbitration meetings, then adoption of the bill by the Council of Government and the Council of Ministers. Nothing circulating at this stage has legal force.
General election
September 23, 2026AheadDate set by decree no. 2.26.190, adopted by the Council of Government on March 5, 2026. A specific feature this year: the bill was prepared by the outgoing government, but it will be tabled, debated, amended and executed by the government formed after the election and by the new House of Representatives. The organic law's deadlines do not change.
Bill tabled with the House of Representatives
By October 20, 2026AheadArticle 48 of the organic law. This is the date that matters to you: the detailed tax measures, article by article, become public that day. Before then, there are only orientations.
Vote of the House of Representatives
30 days after tablingAheadArticle 49 of the organic law. This is the amendment stage: the tabled text and the adopted text can differ noticeably.
Vote of the House of Councillors
22 days after thatAheadThe second House then decides and may vote its own amendments.
Final adoption
6 days at mostAheadThe House of Representatives reviews the Councillors' amendments and adopts the text in final reading. The three deadlines add up to 58 days of parliamentary review.
Promulgation and publication in the Official Bulletin
End of December 2026AheadPublication in the Official Bulletin is what makes the text enforceable. If the law were not voted by December 31, article 50 of the organic law lets the government open by decree the appropriations needed to keep public services running until the vote.
Entry into force
January 1, 2027AheadMeasures apply from that date, unless the text sets a specific effective date. The tax authority then publishes a circular note commenting on each measure, usually in the first quarter.
What the text can change for an individual
These are the levers a Finance Act pulls from one year to the next, not measures announced for 2027. None has been, so far.
The income tax scale
Brackets, rates and the family-charge reduction are set by articles 73 and 74 of the tax code, which the Finance Act can amend each year. The last two acts did.
VAT rates
The rate applied to a product, and the list of exempt goods, affect your shopping and energy bills more than your tax return.
Buying and reselling a home
Registration duties on purchase, capital gains tax on resale: two items finance acts regularly adjust, and which weigh heavily on a purchase budget.
Local taxes
Housing tax, municipal services tax, tax on undeveloped land: their base and allowances can be revised, and their collection has already moved to the tax authority.
Vehicle tax and stamp duties
The annual vehicle tax and stamp duties are classic revenue items, adjusted by scale rather than by reform.
Benefits and subsidies
Butane, sugar and flour subsidies, direct social aid, housing aid: these do not depend on the tax code but on the appropriations opened by the Finance Act. That is the spending side of the text.
What the text can change for a very small business
Corporate tax rates
The convergence launched by the 2023 Finance Act ended in 2026. 2027 is the first year with no programmed trajectory, so corporate tax rates depend entirely on the coming text.
The self-employed regime
Turnover caps, the flat discharging rate and the withholding on services billed to a single client: the regime has already been tightened and remains a natural candidate for adjustment.
The social solidarity contribution
It is already extended to 2026, 2027 and 2028 by the 2026 Finance Act, for professional profits and income from 1,000,000 MAD. It therefore does not depend on the coming text, unless that text amends it.
VAT credit refunds
For a very small business, the refund delay weighs on cash flow more than the rate itself. Professional bodies put this point back on the table every year.
Withholding on professional fees
The mechanism introduced to broaden the tax base directly affects freelancers and small structures that invoice services. Its scope and rate are set by the Finance Act.
Your 2026 benchmarks, in force until the next text is published
These figures remain the reference for a tax calculation or a year-end decision. Each one is tied to its official source.
| Item | Value in force | Legal or statistical basis |
|---|---|---|
| Income tax scale | 0% up to 40,000 MAD · 10% from 40,001 to 60,000 · 20% from 60,001 to 80,000 · 30% from 80,001 to 100,000 · 34% from 100,001 to 180,000 · 37% above 180,000. Amounts in annual net taxable income. | Article 73-I of the tax code, scale from the 2025 Finance Act, unchanged by the 2026 Finance Act.Official source |
| Family-charge reduction | 600 MAD per dependant, capped at 3,600 MAD per year, i.e. six dependants. | Article 74-I of the tax code, raised from 500 to 600 MAD by the 2026 Finance Act, applicable to income earned from January 1, 2026.Official source |
| VAT rates | Two rates: 20% standard and 10% reduced. The former 7% and 14% rates are gone. | Completion of the VAT reform launched by the 2024 Finance Act over three years, finished in 2026.Official source |
| Corporate tax rates | 20% for companies with net profit below 100,000,000 MAD, 35% from that threshold, 40% for credit institutions and similar bodies. | Article 19-I of the tax code, end of the 2023-2026 convergence path opened by the 2023 Finance Act.Official source |
| Withholding tax on dividendsAlready voted for 2027 | 11.25% for amounts distributed since January 1, 2026, then 10% for those distributed from January 1, 2027. The rate depends on the distribution date, no longer on the financial year the profit came from. | Article 247-XXXVII-C of the tax code. Path opened by the 2023 Finance Act and simplified by the 2025 one. The 2027 rate is therefore already voted.Official source |
| Social solidarity contributionAlready voted for 2027 | Due for 2026, 2027 and 2028 by companies subject to corporate tax and by individuals under the net real result regime whose profit reaches 1,000,000 MAD. | Article 273 of the tax code, extended by the 2026 Finance Act under the rules in force on December 31, 2025.Official source |
| Maximum conventional interest rate | 13.21% from April 1, 2026 to March 31, 2027. | Set every year by Bank Al-Maghrib, not by the Finance Act. It is the legal ceiling for any credit granted to an individual.Official source |
| Average bank lending rates | 4.81% across all loans in the second quarter of 2026, including 5.06% for mortgages and 6.81% for consumer credit. | Bank Al-Maghrib's quarterly survey of banks. It is the only public rate benchmark in Morocco: no institution publishes its own grid.Official source |
What is already voted for 2027
Two provisions will apply in 2027 without waiting for the next Finance Act, because earlier texts already voted them: the withholding tax on dividends drops to 10% for amounts distributed from January 1, 2027, and the social solidarity contribution remains due until 2028. The 2027 Finance Act could amend them, but if it says nothing, they apply.
What to do in the meantime
- 1
If you are planning a dividend distribution, check the date: the withholding rate depends on the day of distribution, not on the financial year that produced the profit. Between December 2026 and January 2027 it drops from 11.25% to 10%.
- 2
If you are signing a property purchase late in the year, check the effective date of registration duties and support schemes. A measure voted in December usually applies to deeds drawn up from January 1.
- 3
Do not change anything on the strength of a press announcement. Tax measures are only known when the bill is tabled, around October 20, and they can still be amended until the final vote.
Frequently asked questions
When will the 2027 Finance Act measures be known?
When the bill is tabled with the House of Representatives, by October 20, 2026 at the latest. That is the day the text becomes public, article by article. The final text is then adopted and published in the Official Bulletin at the end of December, entering into force on January 1, 2027.
Will the income tax scale change in 2027?
Nothing supports that claim as of September 8, 2026: no tax measure has been made public. The applicable scale remains the one from the 2025 Finance Act, exempt up to 40,000 MAD of annual net taxable income with a 37% top rate, until the 2027 Finance Act is published.
Does the September 23, 2026 election shift the timeline?
The organic law's deadlines are unchanged. The bill was prepared by the outgoing government, but it will be tabled, debated and executed by the one the election produces. If the law were not voted by December 31, article 50 of the organic law lets the government open by decree the appropriations needed to keep public services running.
What applies in the meantime?
The 2026 rules, unchanged. A new tax provision only takes effect from the date set by the law that creates it. The benchmarks listed above therefore remain the reference for a tax calculation, a loan simulation or a year-end decision.
Where can the official text be read?
The bill is posted by the Ministry of Economy and Finance and by the House of Representatives when it is tabled. The promulgated law appears in the Official Bulletin, published by the General Secretariat of the Government. The tax authority then issues a circular note commenting on each measure, article by article.
Sources
We publish no figure we cannot tie to an official source. Orientations reported by the press are flagged as such.
- Ministry of Economy and Finance — 2026 budget execution, framework for preparing the 2027 Finance Bill and 2027-2029 budget programming, July 22, 2026 — Official source
- Organic law 130-13 on finance acts — articles 47 to 50 (framework presentation, tabling by October 20, deadlines of 30, 22 and 6 days, opening of appropriations by decree) — Official source
- Ministry of Economy and Finance — process for preparing and adopting the Finance Bill — Official source
- Directorate General of Taxes — circular note 737 on the tax measures of the 2026 Finance Act — Official source
- Directorate General of Taxes — circular note 736 on the tax measures of the 2025 Finance Act (income tax scale, dividend withholding tax) — Official source
- Bank Al-Maghrib — maximum conventional interest rate — Official source
- Bank Al-Maghrib — results of the quarterly survey on lending rates — Official source
- General Secretariat of the Government — Official Bulletin — Official source
- National portal maroc.ma — date of the election of members of the House of Representatives set for Wednesday 23 September 2026 (decree no. 2.26.190, Council of Government of 5 March 2026) — Official source
- Médias24 — framework note of the 2027 Finance Bill, August 5, 2026 — Business press