[camel with three humps]

" We were all led to believe that Morocco was all for developing into a first class tourist destination specially on the second home front? they shoved down Plan Azur 2010

In comes a new Finance Minister and his contribution a little bit of magic by.... increasing the TVA from 14% to 20%." besides the following

a) VAT on rental Income. Something that has been touted as tax free for 5 years

b) Charging VAT on mortgage interest rate. Only country in the world to charge interest rate on an fiscal instrument. This you will be paying for mortgage period.


I find it hard to believe that a Country who suppose to be encouraging inward investment would act in this blatant milking the investor.