Cabo Verde Government changes taxation to improve business climate

18 January 2018

The Cabo Verde (Cape Verde) State Budget for 2018 includes a set of important fiscal measures to improve the business climate and the growth of the Cape Verdean economy, the Deputy Prime Minister and Finance Minister Olavo Correia said on Wednesday in Praia.

The minister also said at the end of the opening ceremony of the “State Budget for 2018 under analysis” conference that the government intends, with these tax measures in the 2018 State Budget, to promote national entrepreneurs, creating conditions for them to have access to financing.

“We are promoting companies, exempting them from everything related to corporate operations, as companies are essential in promoting economic growth,” Correia was quoted as saying by the Inforpress news agency.

Correia said that the government is considering reducing income tax on individuals, as well as for municipalities to be exempt from paying Value Added Tax on the construction of works of public interest.

“We want to create a more competitive fiscal framework, but we also have to collect taxes,” said the finance minister. (macauhub)