Morocco Property Forum - Property investment in Morocco - View Single Post

camel · 10-01-08, 01:14 AM

And, who is going to pay the increase VAT ???? from 14% to 20, which your greedy chancellor put up to milk foreigners. Bad enough

a) We have to pay VAT on rent, When we had been been told that there was no tax on rents for 5 years

b) We have to VAT on interest rates for life of the mortgage. Only Country in the world that this happens.

c) We are not even allowed to bring our furniture/chattel without paying taxes on it. Considering that Taxes have already been paid in our respective Countries. The Customs will attack you like vultures and hassle
you for a Baksish

If,Morocco is serious to bring the country into 21st Century than this devious ways of doing business has to stop and be up front in its plans. The mnister is that a lot of developments are now due for completion so he increased this and this will go into the kings pocket.

I for one will now not be going ahead with my purchase in Alhoura or anywhere else in Morooco as I have lost the trust of The Government.

The Country is treating its investors like the tourist in the Souk.

Does your minister thinks its right for people who have committed to a transaction has to pay extra 6% ????? and where will they get
the extra 6% from ???? Banks do not lend for VAT and even if they did you will be paying VAT on the extra borrowing of the 6%
Morocco, should realise that it cannot bite the hands that feeds it.

10-01-08, 01:14 AM	#3 (permalink)
camel Active Member Join Date: Sep 2007 Posts: 94	Re: Al Houara Resort And, who is going to pay the increase VAT ???? from 14% to 20, which your greedy chancellor put up to milk foreigners. Bad enough a) We have to pay VAT on rent, When we had been been told that there was no tax on rents for 5 years b) We have to VAT on interest rates for life of the mortgage. Only Country in the world that this happens. c) We are not even allowed to bring our furniture/chattel without paying taxes on it. Considering that Taxes have already been paid in our respective Countries. The Customs will attack you like vultures and hassle you for a Baksish If,Morocco is serious to bring the country into 21st Century than this devious ways of doing business has to stop and be up front in its plans. The mnister is that a lot of developments are now due for completion so he increased this and this will go into the kings pocket. I for one will now not be going ahead with my purchase in Alhoura or anywhere else in Morooco as I have lost the trust of The Government. The Country is treating its investors like the tourist in the Souk. Does your minister thinks its right for people who have committed to a transaction has to pay extra 6% ????? and where will they get the extra 6% from ???? Banks do not lend for VAT and even if they did you will be paying VAT on the extra borrowing of the 6% Morocco, should realise that it cannot bite the hands that feeds it. Last edited by camel : 10-01-08 at 01:19 AM.