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Redangel7861:
I don't know how old you are. But when the current labour party came into power they promised that they will not increase income Tax. Sure they did not but everything has been taxed as you may have noticed.
Similarly, the Moroccan Govt said no Taxes on rental for 5 years. What the small print said no rental on direct Taxes. It did not say indirect Taxes. ( A souk mentality I am afraid)
VAT on interest is applied at 10%. So if the Bank is charging 5% you add another 10% on the 5%, so it becomes 5.50%. the 5% goes to the Bank and the 0.50 % to the VAT man or dare I say to the King.
It will not be a one off payment it will be applied to the capital for the life of the mortgage.
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