CMR: New flat-rate abatement rate applicable to pensions and life annuities

CMR: New flat-rate abatement rate applicable to pensions and life annuities

The Moroccan Pension Fund (CMR) applies the new flat-rate reduction rate applicable to pensions and life annuities.

In this sense, the CMR informs the beneficiaries of the pensions it serves that the flat-rate allowance rate applicable to pensions and life annuities has increased from 60% to 70% on the gross annual taxable amount of said income for the lower part or equal to 168,000 DH, in accordance with article 60 of the general tax code as amended by the 2023 finance law.

In application of this new tax provision, more than 170,000 pensions will experience an increase in their net amount, from the due date of January of the current year, explains the Fund in a press release.

This measure, it is also underlined, will bring to 90% the percentage of pensioners benefiting from an exemption or a tax deduction.

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