V.A.T GOOD NEWS

[1frenchy]

GOOD NEWS

MOROCCAN GOUVERNEMENT KEEP 14% VAT (TVA)

20% HAS BEEN FAILED

[shak]

Only on contracts signed before 31.12.07. Not the new ones.

[wheresmyjacuzzi]

Only on contracts signed before 31.12.07. Not the new ones.

Well, not to worry there will only be 2, perhaps 3 (tops) contracts signed from 1.1.08 to around 31.12.15.

[kenz]

anyone else receive an email today regarding vat?

optimistically assuming that addoha/fadesa moroc finish my apartment, am i reading it correctly that even though i signed the contract/made a lot of payments a long time ago, that we will be charged the extra 6%, or have i got the wrong end of the stick?

[Pepe Le Pew]

anyone else receive an email today regarding vat?

optimistically assuming that addoha/fadesa moroc finish my apartment, am i reading it correctly that even though i signed the contract/made a lot of payments a long time ago, that we will be charged the extra 6%, or have i got the wrong end of the stick?

E-Mail today? Are you dealing with a "retarded" agent or what?

This has been "news" since February.

Finish you apartment... LOL. If Saïdia is anything to go by, you will can always sell off the second hand bits of steel and mortal to local builders. Good hunting.

Well since your agent is hardly any good, let me say that if you signed the private contract before 31.12.07, no matter how many payments you have made in 2008, you will be charged a global 14%. This laws was enacted (rectified) in February 2008.

That of course presuming that Fadesa finish off, which is another story.

Pepe Le (Shocked at people's information at their fingertips - No wonder the likes of FM get away with it) Pew.

[Pepe Le Pew]

Only on contracts signed before 31.12.07. Not the new ones.

Well, not to worry there will only be 2, perhaps 3 (tops) contracts signed from 1.1.08 to around 31.12.15.

And for what I am seeing in this forum these few contracts will be from the UK. You have this worrying tendency to walk into trouble...

Pepe Le ( at the UK being a salesman's delight) Pew.

[shak]

Pepe le pew: study on you are taking my place on the forum.

[kenz]

Hi Pepe,
the email was direct from fadesa dated july 2008, in it they say although the law was changed in Jan2008 they have only just been informed on how the laws will be implemented. Anyhows, along with probably everyone else i have forwarded to solicitor in the hope he will say final payments can also be made with the 14%.

[Pepe Le Pew]

Hi Pepe,
the email was direct from fadesa dated july 2008, in it they say although the law was changed in Jan2008 they have only just been informed on how the laws will be implemented. Anyhows, along with probably everyone else i have forwarded to solicitor in the hope he will say final payments can also be made with the 14%.

Greetings Kenz,

That explains it... Apologies to your agent, he's probably as in the dark as we all are if we had to depend on information from you know who.

The law was rectified early this year due to mounting pressure and lobbying from the Moroccan Estate Agents Association and a number of other professionals here in Morocco who saw the original legislation as threatening to the industry in view of the current economic climate in Europe. It was duly published by Moroccan Official Agencies, but anyway that was a long time ago and I thought the dust was now settled.

If you signed your (private) contract before 1.1.08 you are OK, that is, post 2008 payment to also be applied 14%. End of story.

Regards

Pepe