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Rabat - In an attempt to crack down on illegal practices in the real estate sector, the Minister of Economy and Finance, Mohamed Bousaid, announced this morning in the capital Rabat the adoption of a pricing reference for the taxation of real estate transactions.
The pricing reference of real estate transactions will take the minimum price of the square meter in several areas for different types of real estate.as the basis for taxation made by tax authorities.
The operation will first concern the grand Casablanca region.
Rabat, Tangiers and Marrakech will follow, explained the Minister of Economy and Finance during the meeting.
The Minister said in his introductory speech that the main objective behind the establishment of the new pricing reference is "to improve transparency and trust between the taxpayer and the tax administration.
The pricing reference will also be available online so that the public will know the minimum price of the square meter in certain areas.
Given the nature of the real estate sector whose prices change regularly, the pricing reference of real estate transactions will be updated whenever necessary in order to maintain reliable data.
Led by the Directorate General of Taxes (DGI), the pricing reference was made in consultation with the National Land Conservation Agency, Maps and Mapping, the National Federation of Developers, Bank Al Maghreb and the Urban Agency of Casablanca.
