Strict Oversight on Foreign Companies’ Transfers in Morocco and Invoice Manipulations

Moroccan authorities are tightening regulations on foreign companies’ financial transfers following a sharp increase in outbound capital flows. In January, these transfers exceeded 2 billion dirhams, marking a 40% rise compared to the same period last year. This surge has raised concerns about financial transparency and the legitimacy of these transactions.

Stronger Financial Monitoring to Prevent Manipulation

According to Morocco’s Office des Changes, the government is now enhancing its oversight on corporate financial transactions, particularly invoice-related activities. Authorities aim to eliminate unjustified invoice inflation, which could be a method of illegally transferring large sums abroad.

The Economic Risks of Invoice Inflation

Economic experts report that some companies artificially increase invoice values when importing goods and services. This allows them to move substantial amounts of money abroad without proper justification. These practices deplete Morocco’s foreign currency reserves and reduce tax revenues, negatively impacting the economy.

Government Measures to Prevent Financial Irregularities

To combat financial misconduct, the government has introduced strict new measures, including:

• Artificial intelligence-based financial audits to detect suspicious transactions.
• Closer monitoring by banks to track foreign companies’ financial activities.
• Tough penalties, including heavy fines and trade restrictions, for businesses violating regulations.

Impact on Foreign Investments

While these measures are designed to protect Morocco’s economy, some investors worry about stricter financial scrutiny. The government is working to strike a balance between maintaining financial stability and encouraging foreign investment to sustain economic growth.

Source : ipst.education/news