Cabo Verde studying tax competitiveness

14 November 2016

The government of Cabo Verde (Cape Verde) plans to conduct a study on tax competitiveness in 2017, a document that will serve as a guide for the next steps to reduce rates of tax, the country’s Finance Minister announced Friday in Praia.

Minister Olavo Correia told businessmen from the archipelago’s Leeward islands at a meeting to discuss the 2017 state budget proposal that the study is intended to “create a more competitive tax environment, a more tax efficient machine that is more capable of serving the state, businesses and citizens.”

Correia, quoted by the Inforpress news agency, stressed that “the country currently has a significant level of tax flight and tax evasion and an inefficient tax machine.”

“We must begin to focus on the efficiency of Tax and creating conditions to charge more, increase the tax base and allow each person to pay less,” said the minister. (macauhub)