Investment agreement: customs exemption for equipment (art. 164-1°-p)

• Texts: article 164-1°-p of the Customs Code (import duty) + article 123-22°-b of the CGI (import VAT). • Threshold: committed investment ≥ MAD 50 million (50 MDH) and an investment agreement concluded with the government. • Duration: exemption for 36 months from the first import made under a valid agreement, extendable by 24 months; the investment must be completed within 36 months, otherwise duties become payable. • Goods covered: equipment, materials, tools and the parts, spare parts and accessories imported at the same time (to be recorded as fixed assets and eligible for deduction). • Five-year lock: exempted goods may not be transferred, assigned or used otherwise for 5 years without express authorisation; approved lists are tracked centrally in the AGLACI application.