September 28, 2022 – 9:00 PM – Economy
Morocco ranks 79th in the Financial Secrecy Index 2022 compiled by the UK-based NGO Tax Justice Network.
The Financial Secrecy Code ranks jurisdictions according to the degree to which a country allows individuals to hide and launder money from around the world. The higher the country’s ranking, the greater the financial opacity and influence of the country in offshore financial activities.
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Therefore, it mainly concerns the possibility of hiding assets from the view of tax authorities through secret arrangements, including the right to anonymity of real estate, companies and other banking secrets.
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Globally, the United States tops the Financial Secrecy Index by 2022, followed by Switzerland, Luxembourg, the United Arab Emirates and the British Virgin Islands. In the Middle East and North Africa (MENA), Qatar (20th) ranks first. It is followed by Saudi Arabia (25th), Algeria (34th), Kuwait (35th), Oman (47th), Egypt (56th), Morocco (79th) and Tunisia (102nd).
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