Key takeaways
- Every commercial company keeps accounts under the CGNC framework (Law 9-88).
- Annual financial statements are drawn up within three months of year-end.
- Accounting records and supporting documents are kept for ten years.
The framework: Law 9-88 and the CGNC
Accounting in Morocco is governed by Law 9-88 on traders' accounting obligations and by the General Accounting Standards Code (CGNC). Every commercial company must keep regular, sincere accounts, in dirhams, allowing annual financial statements that give a true and fair view of its assets, financial position and results.
These accounts rest on mandatory books — journal, general ledger and inventory book — and a chart of accounts compliant with the CGNC.
The financial statements
Under the standard regime, the annual statements comprise five documents: the balance sheet, the income statement (CPC), the management balances statement (ESG), the financing table (TF) and the notes (ETIC).
Companies whose revenue does not exceed the legal threshold (10 million dirhams) may opt for a simplified model with fewer statements and line items.
Deadlines, approval and filing
The statements must be drawn up within three months of year-end. Accounts are then approved by the general meeting within six months of year-end and filed with the commercial court registry within thirty days of approval for SAs and SARLs.
The same accounts form the basis of the tax return, itself filed within three months of year-end.
Record-keeping and sanctions
Accounting records and supporting documents must be kept for ten years. Accounts showing serious irregularities can be rejected by the tax administration, which then reconstructs taxable income — with the resulting surcharges. Accounting rigour is not just a regulatory constraint: it is a protection.
This article provides general information based on Moroccan regulations at the date of publication. It does not constitute personalised advice — rates, thresholds and rules change with each Finance Act. Contact the firm to review your specific situation.