Tanger’s developers in the tax authorities’ sights

According to Hespress, several major real estate developers in Tanger have been subjected to this procedure. The competent services have asked them to confirm the documents and data relating to significant sales and purchase operations recorded over the past five years. Thus, the residential projects and properties belonging to these developers since 2021 and 2022 have been subject to verification and audit.

The tax administration is seeking to verify this information in view of the income that these properties have recorded over the past two years, marked by a strong recovery in the real estate market, according to sources close to the case, noting that the city of Tanger is becoming a popular destination at the end of the year for business leaders and businessmen who want to regularize their tax situations for the current year.

The Directorate General of Taxes has sent correspondence to all the persons concerned, inviting them to regularize their situation and declare the profits and transactions they have carried out during this year that is coming to an end. Some developers who have had difficulty justifying certain transactions and operations have been ordered to provide the necessary documents and supporting documents, in accordance with the law.