Morocco’s 2027 finance bill cleared its first step on Saturday 17 October 2026: meeting at the Royal Palace in Rabat, the Council of Ministers chaired by King Mohammed VI examined and adopted its general guidelines, the day after the government of Fatima Ezzahra El Mansouri was appointed. No quantified tax measure has been announced so far: no corporate income tax rate, and no change to the industrial acceleration zone (IAZ) regime or to Casablanca Finance City (CFC) status. The detailed bill is due in Parliament by 20 October at the latest. Here is what is known, what is still pending, and what it means for a company based in a Tangier free zone.
In brief. 17/10/2026: general guidelines of the 2027 finance bill (PLF 2027) adopted by the Council of Ministers (Article 49 of the Constitution), presented by the Minister of Economy, Finance and Public Performance. Figures cited: growth of 4.7% and inflation of about 0.7% expected at end-2026, budget deficit brought down to 3% of GDP. Five priorities: purchasing power and the social state, youth integration (2027-2031 programme), advanced regionalisation (about MAD 25 billion for integrated territorial development), strategic sovereignty, a strong economy. For businesses: stronger Investment Charter mechanisms, continued reform of the Regional Investment Centres (CRI), support for very small, small and medium enterprises. No IAZ / CFC / corporate tax measure announced at this stage.
Want to know what the 2027 finance bill will change for your Tangier company? Talk to our firm.
What did the Council of Ministers decide on 17 October 2026?
According to the Royal Cabinet communiqué as reported by the press (TelQuel, La Vie éco, APA, Le Desk), the Council of Ministers examined and adopted the general guidelines of the finance bill for 2027. This is the procedure set by Article 49 of the Constitution: the main budget lines are deliberated in the Council of Ministers, before the bill is adopted by the Government Council and tabled in the House of Representatives. As reported, the communiqué mentions no other text adopted at this meeting.
The Minister of Economy, Finance and Public Performance described an unstable international environment and set out the government’s assumptions: growth of 4.7% and inflation contained at around 0.7% at the end of 2026, and a budget deficit brought down to 3% of GDP (the target year is not specified in the reports reviewed).
What are the five priorities of the 2027 finance bill?
| Priority | Announced content | Relevance for a free zone company |
|---|---|---|
| 1. Purchasing power and the social state | Reform of markets and prices from 2027, universal health coverage, higher direct social aid, direct housing aid | Indirect: social climate, employees’ cost of living; no payroll measure announced |
| 2. Youth integration | Integrated national programme 2027-2031: training, incubation, access to financing and markets | To watch: possible hiring or training schemes |
| 3. Advanced regionalisation | Reorganised regional powers, State-region contracts, Charter of administrative deconcentration; about MAD 25 billion of credits for integrated territorial development | Tangier-Tetouan-Al Hoceima region: territorial investment, role of the CRI |
| 4. Strategic sovereignty | Water, renewable energy, green hydrogen, gas infrastructure, food security, digital sovereignty | Energy and water for industrial sites |
| 5. A strong economy | Financing of major projects, “new sovereign industrial ecosystems”, stronger Investment Charter, CRI reform, support for small businesses | Direct: investment incentives, new industrial sectors, support for SME subcontractors |
Are there tax measures for free zones or IAZs?
No, not at this stage. The general guidelines are a framework document: they set priorities and assumptions, not rates. None of the Council of Ministers reports reviewed mentions any change to corporate income tax, VAT, personal income tax, the industrial acceleration zone regime (Article 6-II-B-8° of the General Tax Code) or CFC status. The tax measures will appear in the text of the bill and its explanatory note, which the ministry usually publishes on finances.gov.ma when the bill is tabled.
As a reminder, the 2026 finance law did not change the IAZ regime and kept the target corporate tax scale in place. Until the 2027 text is published, those rules apply.
Who now runs Industry, Finance and Investment?
The King appointed the El Mansouri government on Friday 16 October 2026 (32 members according to the list published by Le360). Three portfolios directly concern free zone companies:
| Portfolio | Holder | Why it matters |
|---|---|---|
| Minister of Industry, Trade, Investment and Economic Inclusion | Ryad Mezzour | Industrial oversight of business zones; Investment now appears in the ministry’s title |
| Minister Delegate for Foreign Trade | Omar Hejira | Exports and trade agreements: the core business of free zone companies |
| Minister of Economy, Finance and Public Performance | Fouzi Lekjaa | In charge of the 2027 finance bill and tax policy |
The Head of Government is due to present the government programme to both Houses in joint session on Monday 19 October 2026, according to Médias24 and Atlasinfo. That programme may spell out the announced industrial and investment policy.
What is the timetable up to the 2027 finance law?
| Step | Date | Status |
|---|---|---|
| Appointment of the El Mansouri government | 16/10/2026 | Done |
| General guidelines of the 2027 bill in the Council of Ministers | 17/10/2026 | Done |
| Government programme before Parliament | 19/10/2026 (announced) | Upcoming |
| Adoption by the Government Council, then tabling in the House of Representatives | By 20/10/2026 at the latest (Article 48 of Organic Law No. 130-13) | Upcoming; exact date not announced |
| Review and vote by both Houses, promulgation | Usually in December | Upcoming |
| Tax Directorate (DGI) circular on the tax measures | After promulgation | Upcoming |
What it means for a free zone company in Tangier
Nothing immediate. The guidelines have no legal effect on your taxes: your 2026 obligations (corporate tax instalments, returns, withholding taxes) remain governed by the current General Tax Code.
Three points to watch in the bill. First, the stronger Investment Charter mechanisms: if you are planning an extension or a new site, grant conditions could change. Second, the reform of the CRIs, the investors’ point of contact in the Tangier-Tetouan-Al Hoceima region. Third, the reference to “new sovereign industrial ecosystems”: it could lead to priority sectors or new zones, like the new IAZs created by decree in 2025-2026.
What to prepare. If you are finalising a 2027 budget or a set-up plan, keep an “unchanged regime” assumption and plan a review as soon as the text is published. Investors comparing locations can use the list of industrial acceleration zones and our foreign investor roadmap for Tangier.
We will read the 2027 bill as soon as it is tabled. Cabinet Dami & Associés, chartered accountants in Tanger Free Zone, will publish a measure-by-measure analysis for IAZ and CFC companies. For a review of your situation: WhatsApp or contact form.
How Cabinet Dami & Associés supports you
Our free zone accounting firm in Tangier follows every stage of the finance law for you: analysis of the bill, simulation of the impact on your corporate tax and cash flow, and updates to your payroll and invoicing procedures when it comes into force. We also handle Investment Charter files and set-ups in Tanger Free Zone.
FAQ
Has the 2027 finance bill been tabled in Parliament?
Not as of 17 October 2026. Only its general guidelines have been adopted by the Council of Ministers. It must be tabled in the House of Representatives by 20 October at the latest (Article 48 of Organic Law No. 130-13).
Does the tax regime of industrial acceleration zones change in 2027?
No change has been announced. The guidelines contain no quantified tax measure; the text of the bill is needed to confirm this.
Is Casablanca Finance City status affected?
No CFC measure is mentioned in the reports of the 17 October 2026 Council of Ministers.
Who is Minister of Industry in the El Mansouri government?
Ryad Mezzour, Minister of Industry, Trade, Investment and Economic Inclusion, appointed on 16 October 2026. Omar Hejira is Minister Delegate for Foreign Trade.
What does the 2027 finance bill say about private investment?
It plans to strengthen the Investment Charter support mechanisms, continue the reform of the Regional Investment Centres and support small businesses. The details are not yet known.
Sources: Royal Cabinet communiqué of 17/10/2026 as reported by TelQuel, La Vie éco, APA and Le Desk; government line-up published by Le360 (16/10/2026); Médias24 (17/10/2026). This article will be updated as soon as the 2027 finance bill is published.
Information up to date as of 17 October 2026, based on the general guidelines and not on the text of the bill; it may change during the parliamentary process. For an analysis tailored to your situation, contact Cabinet Dami & Associés.
