MAROC_TELECOM_REGISTRATION_DOCUMENT_2017

FINANCIAL REPORT

Statutory financial statements

B13 — DETERMINATION OF ORDINARY INCOME AFTER TAX

FROM 01/01/2017 TO 12/31/2017 (IN MAD THOUSAND) I - DETERMINATION OF INCOME

Amount

Ordinary income from statement of comprehensive income (+)

7,682,151

Add-backs on ordinary operations Deduction of ordinary operations

109,426

1,046,803 6,744,775 2,090,880 -131,123 5,722,394

Ordinary income theoretically taxable (=) Theoretical tax on ordinary income (-)

Exemption of EXPORT revenues Ordinary income after tax (=)

4

II - INDICATION OF THE TAX STATUS AND ADVANTAGES GRANTED BY INVESTMENT CODES OR BY SPECIFIC LEGAL PROVISIONS IAM benefits from a reduced rate of corporate income tax (17.50% instead of 31%).

B14 — ANALYSIS OF VAT

FROM 01/01/2017 TO 12/31/2017 (IN MAD THOUSAND)

Opening balance

Closing balance

Operations

VAT returns

Description

1

2

3

(1+2-3)

(A) INVOICED VAT

2,267,386

3,467,028 1,903,741

3,411,444 1,864,740

2,322,970

(B) RECOVERABLE VAT

444,556 269,881 174,675

483,558 266,451 217,107

– On expenses

954,733 949,009

958,163 906,577

– On assets

C/VAT PAYABLE (VAT CREDIT)

1,822,829

1,563,286

1,546,704

1,839,412

VAT = (A-B)

187

MAROC TELECOM ____ 2017 Registration Document