Law 69-21 on Payment Terms in Morocco: What You Need to Know in 2026
Moroccan Law 69-21 requires companies with annual turnover exceeding 2 million dirhams to pay suppliers within 60 days of the invoice date, or within agreed contractual terms capped at 120 days. Any late payment triggers a monthly fine remitted to the State Treasury, reported quarterly online.
Updated on 27/10/2026Prepared by eFacto based on official texts · chartered accountant review in progress
If the invoice was issued after the month of delivery, the deadline runs from the end of that delivery month.
Blank: legal default term (60 days). Capped at 120 days.
Blank: invoice not yet paid (computed as of today).
Result
Enter the amount, invoice date, and payment date: the tool calculates the legal due date (counted from invoice date, Law 69-21), the delay, and the estimated penalty.
Calculation: amount × (2,25 % + 0,85 % × (months − 1)). Any started month counts as a full month.
Applies to businesses with annual turnover exceeding 2,000,000.00 MAD (quarterly declaration).
eFacto performs this calculation across all your supplier invoices and prepares the quarterly declaration.
Free TrialWhich companies are subject to Law 69-21?
All enterprises whose annual turnover excluding VAT exceeds 2 million dirhams. The law rolled out progressively: large enterprises in 2023, medium enterprises in 2024, and all companies over 2 million DH since January 1, 2025.
| Annual Ex-Tax Turnover | Subject Since |
|---|---|
| Above 50 million DH | July 1, 2023 |
| From 10 to 50 million DH | January 1, 2024 |
| From 2 to 10 million DH | January 1, 2025 |
| 2 million DH or below | Not subject to Law 69-21 |
What are the legal payment terms in Morocco?
In the absence of a contract, payment is due within 60 days from the invoice date. An agreed contractual term may not exceed 120 days from the invoice date (Commercial Code Article 78-2, as amended by Law 69-21).
- Default legal term: 60 days from invoice issue date.
- Contractual term: Maximum 120 days from invoice issue date.
- Special exception: Terms up to 180 days may be established by decree for specific or seasonal industries.
Invoices must be issued no later than the last day of the month of delivery or service completion. If issued late, the statutory payment clock still runs from the end of that delivery month.
- Delivery / Service Date
- 15/12/2025
- Invoice Issued On
- 20/01/2026 (after end of delivery month)
- Payment Clock Starts
- 31/12/2025
- Payment Due Date (60 days)
- 01/03/2026
How is the late payment fine calculated under Law 69-21?
The fine applies to the overdue amount: Bank Al-Maghrib’s benchmark key rate for the first overdue month (2.25% since September 22, 2026), plus 0.85% for each additional month or fraction of a month. The fine is paid directly to the Moroccan Treasury.
- Determine due date: Invoice date + statutory term (60 days, or agreed term up to 120 days).
- Count overdue months between the due date and actual settlement date; any started month counts as a full month.
- Fine Rate = Bank Al-Maghrib Key Rate + 0.85% × (number of overdue months − 1).
- Total Fine = Overdue amount × Fine Rate.
- First Month
- 2.25%
- Two Additional Months
- 2 × 0.85% = 1.70%
- Total Penalty Rate
- 3.95%
- Fine to State Treasury
- 3,950.00 MAD
Bank Al-Maghrib key rate maintained at 2.25% on September 22, 2026. The calculator at the top automatically calculates with these legal rates.
Invoices subject to formal court dispute do not trigger statutory fines until a definitive, unappealable court ruling is handed down. Suppliers also retain their right to claim contractual late interest from the debtor.
When and how must companies file payment term declarations?
Quarterly, via the online tax portal (SIMPL), before the end of the month following each calendar quarter — even if zero invoices were paid late. Any accumulated fine is remitted along with the return.
| Quarter | File and Pay Before End Of |
|---|---|
| Q1 (January–March) | April |
| Q2 (April–June) | July |
| Q3 (July–September) | October |
| Q4 (October–December) | January of the following year |
The return itemizes invoices settled beyond legal terms as well as invoices remaining unpaid past due date, stating supplier details, days of delay, and the calculated statutory fine.
What are the penalties for failure to file or filing late?
A fixed penalty ranging from 5,000 to 250,000 dirhams based on annual turnover for late or absent returns, plus 5,000 dirhams for each omitted or inconsistent invoice in an incomplete declaration.
| Annual Ex-Tax Turnover | Penalty |
|---|---|
| From 2 to 10 million DH | 5,000 DH |
| From 10 to 50 million DH | 12,500 DH |
| From 50 to 200 million DH | 50,000 DH |
| From 200 to 500 million DH | 125,000 DH |
| Over 500 million DH | 250,000 DH |
Frequently asked questions
Does the payment period start from invoice date or delivery date?
From the invoice date under Law 69-21, rather than delivery. However, the invoice must be issued by the end of the delivery month; failing that, terms count from the end of the delivery month.
Must a company file if no invoices were paid late during the quarter?
Yes. The declaration is mandatory every quarter before the end of the following month, even with zero delinquent invoices (nil return).
What rate applies for the first overdue month?
Bank Al-Maghrib’s benchmark key rate, which is 2.25% (as of the September 22, 2026 decision). Each subsequent month or month fragment adds 0.85%.
Who receives the penalty fine under Law 69-21?
The Moroccan State Treasury, paid simultaneously with the quarterly tax return. It does not replace the supplier’s separate right to seek commercial damages.
Are companies with turnover under 2 million dirhams affected?
No. Law 69-21 strictly applies to commercial entities whose annual revenue excluding VAT exceeds 2 million dirhams.
Compliant invoices, verified VAT, tracked deadlines
eFacto calculates line-by-line VAT at applicable statutory rates and monitors payment deadlines for your clients and suppliers.
Try eFacto for freeOfficial sources
- Law No. 69-21 amending Law No. 15-95 Commercial Code — Official Gazette of June 15, 2023 (Arabic Edition)
- Moroccan Commercial Code — Article 78-2 — Payment Terms and Invoicing Deadlines
- Bank Al-Maghrib — Board Decision of September 22, 2026 — Benchmark policy rate maintained at 2.25%
- Grant Thornton Morocco Advisory Note — Scale of penalties and reporting compliance for Law 69-21
General information updated on indicated date. For specific cases, consult official texts or a chartered accountant.