Quote:
Originally Posted by robspall
Hi again! We have had an advice from our solicitor that tax in Morocco has increased this year from 14% to 20% and that therefore our staged payments will increase  We have queried this but been advised that this was confirmed as being the case by Fadesa.
We do net agree with this as our contract clearly states the amounts we have agreed to pay which include the tax at 14% so just wondering if you are in the same position?
Rob. |
Hi Rob.
I am aware of the TVA increas in Morocco, but as far I was concerned this was for new reservations only and not for people who had already signed their contract at 14%. I know that a lot of the developers including Fadesa, are in the process of lobbying the Moroccan hirerarchy to re-consider and as of yet no official announcement has been made.
I will continue to pay at the 14% rate until I hear otherwise as my contract clearly states the amounts inclusive of TVA at 14%.
I know that many constructors in Morocco are absorbing the extra TVA. If I was you do not pay a penny extra until you get official confirmation from the developer or some kind of official statement has been released with regards to the conclusion of the talks regarding TVA.
Regards
RED