Written by 11:06 am Economy

Alcohol and tobacco duties fuel treasury in 2022 with over 13 billion dirhams

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Tobacco duties brought in a staggering 12.79 billion dirhams, with beer duties adding another 1.1 billion dirhams to the treasury’s coffers in 2022.

Import value-added tax emerged as the leading revenue stream for the Customs and Indirect Taxes Administration, boasting an impressive collection of 54.48 billion dirhams.

Furthermore, energy product fees contributed significantly to the fiscal landscape, generating a robust 15.97 billion dirhams. The Ministry of Economy and Finance oversaw a total collection of 100.06 billion dirhams through the Customs and Indirect Taxes Department. Income tax followed closely behind, amassing 48.25 billion dirhams, while company tax took the lead at 61.35 billion dirhams. Value-added tax secured the third spot, totaling 31.14 billion dirhams.

Delving into specific entities, the Office Chérifien des Phosphates emerged as a major profit driver, boasting earnings of 6.53 billion dirhams. The National Agency for Real Estate Conservation and Cadastral Survey also contributed significantly, with profits totaling 4 billion dirhams. State financial contributions rounded off the list at 903.57 million dirhams.

However, expenditure figures painted a contrasting picture. Private account expenses soared to 131.17 billion dirhams, surpassing the Finance Law 2022’s specified amount by a striking 133.41 percent. Private matters and allocation expenses accounted for a staggering 99.45 percent of the treasury’s private account expenses, with respective shares of 87.84 percent and 11.62 percent.

Despite these expenditures, the general budget witnessed a notable increase of 88.23 billion dirhams in 2022.

The treasury’s private accounts showcased a surplus of 20.75 billion dirhams, while independently managed state facilities recorded an additional surplus of 3.19 billion dirhams. However, overall budget implementation resulted in a significant increase in expenditures, amounting to 64.28 billion dirhams.

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