Press coverage and broker screens quote the gross figure. This tool estimates what a Moroccan resident individual actually keeps after withholding tax on dividends, capital gains, and bond interest. Values update as you type.
Morocco withholds tax on investment income at source: the paying company, broker, or bank deducts the tax before the cash reaches the investor, so there is usually no separate filing for routine domestic holdings. The three regimes this tool covers are:
The dividend example above is drawn from real life: when Attijariwafa Bank, Maroc Telecom, or Banque Centrale Populaire announces a dividend, the figure in the press release is the gross amount per share. The number that lands in a Moroccan resident's brokerage account is the net amount after the applicable TPA rate. Online and press coverage almost always quote the gross, which is why the gap surprises first-time dividend receivers.
This calculator estimates the withholding for a Moroccan resident individual holding securities directly in a brokerage account. It does not model: the small annual capital-gains exemption threshold set in the Loi de Finances (which can insulate very small portfolios), corporate holders under the participation-exemption regime, non-resident and diaspora treaty rates, or preferential savings schemes with reduced rates. Non-resident shareholders are generally subject to 15% on Moroccan-source dividends, reducible where a double-tax treaty applies and the investor is registered as a treaty beneficiary. Rates are set annually in the Loi de Finances and can change; confirm the current figures with the DGI or a Moroccan tax adviser before acting. Nothing here is tax advice.
Sources. Rates and mechanics from Morocco's Code Général des Impôts and annual Loi de Finances, published by the Direction Générale des Impôts - tax.gov.ma. The TPA phase-down schedule reflects Finance Law 2023 as amended by Finance Law 2025. See our full explainer, How investment income is taxed in Morocco, and the corrections log for the update history of this figure.