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Old 20-05-2008, 02:17 PM
lurcher21 lurcher21 is offline
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Join Date: May 2008
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Quote:
Originally Posted by camel with three humps View Post
Thanks Lurcher: Do you think as Morocco evolves, this rather in efficient/incompetent system will have moved on.
They are certainly not inefficient or incompetent when it comes to stealing your money and charging you taxes on funds you have never had. We went with the intention of selling the villa and buying a smaller apartment - but we have been completely discouraged by what has happened - and in any case by the time they have finished taking our money I don't think we will be left with sufficient funds to buy an apartment! We will keep you informed on the outcome of the funds transfer matter when we go back in the Autumn.
We actually got advice from the British Consulate whilst over there - and were put in contact with the lawyer who looks after their interests in Morocco. He advised us to try to negotiate a reduction in the TPI but said there was nothing more we could do. The tax office will increase the amount of TPI due MONTHLY, they say, because of the soaring property prices, as each month the house is worth more. It is so unjust. Even the purchasers of our villa now face a much increased tax liability due to the higher valuation.
If anything, I reckon things are getting worse over there (with regard to bureaucracy, corruption, dishonesty etc) not better. The bubble has to burst. Who knows, maybe in the end we will have had a lucky escape by selling when we did.
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