Quote:
Originally Posted by lurcher21
Me too! Buyers beware - the Moroccan Government steals from you as much as other individuals. Our property was sold for a genuine, 100% declared, amount, and then we were hit by the bombshell of a revision of TPI tax on 50,000 euros extra of non-existent 'profit' as they said the house was worth more than we sold it for when property prices were rising monthly and the sale of the house had taken 5 months to complete!
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Like is said its one tax for us and one tax for a moroccan it makes me sad that thay want the investment but thay want to take all the tax.
The agents here tell you no tax to pay for 5yrs ( this is not True ) as soon as you buy a property the Tax Bill starts and with a not a moroccan name its on the value on the house ( when i had my house i was paying 2500,dh the house next door owner Moroccan was paying 300dh per year)
Let me tell you if you sell your Property for a loss or the same price as you paid for it you will have to pay a TAX.
Thay will not accept that you have not made a profit on the sale of the property...
In Morocco the agent and the builder will ask you to declare Half Dont .............