Global forum on transparency and exchange of information for tax purposes peer reviews: Morocco 2016: phase 2: implementation of the standard in practice: November 2016 (reflecting the legal and regulatory framework as at March 2016)

Annotation This report contains the 2014 "Phase 2: Implementation of the Standards in Practice" Global Forum review of Morocco Table of Contents 5 About the Global Forum 7 Abbreviations 9 Executive summary 13 Introduction 17 Information and methodology used for the Peer Review of Morocco 17 Overview of Morocco 18 General information on the legal and tax system 18 Compliance with the Standards 23 A. Availability of information 23 Overview 23 A.1. Ownership and identity information 25 A.2. Accounting records 64 A.3. Banking information 75 B. Access to information 81 Overview 81 B.1. Competent authority’s ability to obtain and provide information 82 B.2. Notification requirements and rights and safeguards 97 C. Exchange of information 99 Overview 99 C.1. Exchange of information mechanisms 100 C.2. Mechanisms for exchanging information with all relevant partners 108 C.3. Confidentiality 110 C.4. Rights and safeguards of taxpayers and third parties 114 C.5. Timeliness of responses to requests for information 115 Summary of conclusions and factors underlying recommendations 125 Annex 1: Jurisdiction’s response to the review report 131 Annex 2 : List of all exchange of information mechanisms in force 132 Annex 3: List of all laws, regulations and other material received 139