The new provisions will apply to natural or legal persons whose annual
turnover exceeds 2 million dirhams excluding tax, the new law on payment terms
will come into force gradually according to the following schedule:
- From July 1, 2023, it will apply to companies with a turnover of more
than 50,000,000 DH excluding tax.
- From January 1, 2024, it will concern companies with a turnover of more
than 10,000,000 DH excluding tax but less than or equal to 50,000,000 DH
excluding tax.
- Finally, from January 1, 2025, it will apply to companies with a turnover
of more than 2,000,000 DH excluding tax but less than or equal to 10,000,000 DH
excluding tax.
1. Provisions on payment terms
(articles 78-1 and 2)
The new law on payment deadlines imposes the precision of deadlines in
commercial transactions. In the absence of an agreement between the parties,
the default payment period is set at 60 days from the date of invoice. If a
deadline is agreed, it cannot exceed 120 days from the date of issue of the
invoice, except for public establishments. However, exceptions may be granted
by decree for certain specific or seasonal sectors, with a maximum period of
180 days, subject to the opinion of the Competition Council and agreements concluded
by the representative professional organisations. This regulation aims to
ensure better supervision of payment terms in commercial exchanges.
2. Date of invoicing and
calculation of payment terms (article 78-2)
According to article 78-2 of the law, the invoice must be issued no later
than the last day of the month of delivery of the goods or the execution of the
works or services. The payment period is calculated from the date of issue of
the invoice, except for public establishments where it is calculated from the
date of receipt or performance of the service in accordance with the old text.
If the invoice is not issued within the stipulated time, the payment period
begins from the end of the month of delivery of the goods or performance of the
works or services.
3. Fines in the event of
non-compliance with payment deadlines (article 78-3)
According to article 78-3, the new law provides for a pecuniary fine to be
paid to the Treasury, calculated according to the Bank al Maghreb key rate
(currently 3%) for the first month of delay, increased by 0.85% per month or
additional fraction of a month, applicable to the amount unpaid within the time
allowed, except for disputed invoices awaiting judgment.
- When an invoice is the subject of a legal appeal, no fine is applied
until the case has been judged. However, once a final judgment has been
rendered, the fine in question must be paid to the Treasury.
- According to Article 78-3 of the new law, natural or legal persons have
the right to request compensation in the event of non-compliance with the
payment deadline by the debtor.
- Nevertheless, invoices issued before January 1, 2025, the amount of which
does not exceed 10,000 dirhams including tax, are not subject to the
aforementioned fine.
4. Quarterly declaration
obligation (article 78-4)
According to article 78-4, a new electronic quarterly declaration
obligation is introduced.
- Individuals or legal entities whose annual turnover exceeds 2,000,000 dirhams
excluding VAT must file this declaration before the end of the month following
the end of each quarter, even in the absence of overdue invoices.
-The declaration must be accompanied by a detailed statement of invoices
exceeding the payment deadlines, which must be established by:
* an auditor for companies with
a turnover equal to or greater than 50,000,000 dirhams excluding tax.
* by a chartered accountant or
certified accountant for companies with a turnover of less than 50,000,000
dirhams excluding tax.
5. Sanctions in the event of
breach of obligations (article 78-6)
Article 78-6 provides for severe pecuniary sanctions in the event of breach
of obligations. Companies that do not comply with the quarterly declaration can
be subject to heavy fines. Similarly, non-payment of the fine provided for in
article 78-3 may lead to penalties. The amounts of the fines vary according to
the annual turnover excluding VAT achieved by the company:
*2,000,000 DH > CA HT < or = 10,000,000 DH========= 5,000 DH
*10,000,000 DH > CA HT < or = 50,000,000 DH ======== 12,500 DH
*50,000,000 DH > CA HT < or = 200,000,000 DH======== 50,000 DH
*200,000,000 DH > CA HT < or = 500,000,000 DH ====== 125,000 DH
*500.000.000 DH > CA HT ======================= 250.000 DH
In case of incomplete or insufficient declaration, a fine of 5,000 dirhams
is applied for each f
