Streamlining Customs: Morocco's 2024 Finance Law Enhances Trade Facilitation
Morocco's Customs procedures receive a significant facelift with the enactment of the 2024 Finance Law, introducing crucial amendments to the Customs Code. The implementation of streamlined electronic declaration procedures is poised to propel international commerce, allowing operators to submit simplified e-declarations when transporting goods from bonded warehouses to export offices. This transformative change liberates businesses from the previous entanglement of red tape, promising accelerated processing, reduced paperwork, and a revitalized trading environment, thereby elevating Morocco's competitive edge.
The heralding of a new era in export procedures is marked by the release of Customs and Excise Circular No. 6522/210 on December 29th, detailing the 2024 budgetary provisions from the Tax Administration. The circular references the "Finance Law No. 55-23 for the 2024 fiscal year," recently ratified into law by Royal Decree No. 1-23-91 on December 14th. This legislation introduces several enhancements to the Customs Code with the explicit goal of simplifying clearances.
A key aspect of the reform is articulated in Article 3, which modifies clearance protocols impacting Articles 76bis and 156. Previously, the preparation of manifests for goods moving from bonded areas to export bureaus was a manual process. Now, in a transformative move, supporting documentation for this cargo transport transitions to the digital space as per the amended Article.
Article 156 acknowledges the streamlined declaration under Article 76bis as the new conduit for shifting merchandise between warehouses and exit points. This signifies a shift from paper-based submissions to electronic ones for this leg of the export journey, promising a substantial reduction in processing times. An additional efficiency boost is introduced by exempting e-filers using the simplified declaration from submitting supplementary post-clearance statements under Article 76bis-3.
Morocco's commitment to trade facilitation measures solidifies its position as a favored business gateway to Africa. Embracing global customs modernization principles, including paperless processes, transparent data, and faster clearances, demonstrates an outward orientation in sync with globalized dynamics. This move is welcomed by both domestic enterprises and foreign investors, reflecting the collective desire within the commercial community.
While these legislative changes represent only one piece of the trade puzzle, they set an instrumental tone for Morocco's future. Streamlined digital customs prerogatives are poised to significantly enhance Morocco's competitive positioning and foster an increased appetite for cross-border commerce in today's intricately interlinked economy.