The Contracting States notified each other in writing, through diplomatic channels, that the procedures required by their domestic laws for the DTT’s entry into force have been complied. DTT agreement was adopted by the Serbian Parliament on 26th November 2013 and shall apply as of 1st January 2023.
The DTT between Kingdom of Morocco and Serbia provides the following benefits:
Dividends: 10% withholding tax rate will apply to the gross amount of the dividends
Interest: Tax on interest shall not exceed 10% of the gross amount of the interest.
Interest that arises in Serbia and will be paid to a resident of Kingdom of Morocco will not be taxable in Serbia if the beneficial owners are the Government of Morocco and the Central Bank of Morocco
Investors from Republic of Morocco who intend to exercise DTT favourable rates are obliged to provide Certificate of Tax Residency issued for the current year.
Impact on investors: DTT between Kingdom of Morocco and Serbia is expected to create a more favourable tax environment for eligible investors.