Morocco ranks 79th on the Financial Secrecy Index

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.

Also Read: Moroccan Tax Authorities Invent New Method To Catch Bad Taxpayers

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.

Also Read: Morocco: Tax officials investigate mistresses of top officials

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).

See also  Goalkeeper Michael Wood has left the Netherlands for a three-year deal in Japan

Leave a Reply

Your email address will not be published. Required fields are marked *