Morocco: gains on OPCVM fund units taxed at 15% for equity funds and 20% for others

The market regulator AMMC states a 15% rate on gains on equity fund units (as for listed shares) and 20% for other funds and bonds. Interest 30%, rent 10% up to MAD 120,000 a year and 15% above, property sales 20% of the gain, at least 3% of the price (PwC).

What this changes in the calculation

Fund was empty; it can be filled with 15% (equity) or 20% (other).