São Tomé and Príncipe and Cabo Verde to sign an agreement to avoid double taxation of income

São Tomé and Príncipe and Cabo Verde plan to sign agreements to avoid double taxation of income and to ensure reciprocal protection of investments, the Cape Verdean Deputy Prime Minister and Finance Minister announced.

The announcement was made by Olavo Correia during a meeting with a São Tomé delegation visiting Cabo Verde, headed by the Secretary of State for Trade and Industry, Eugénio da Graça, and who is part of the president of the Chamber of Commerce, Industry, Agriculture and Services of São Tomé, Jorge Correia.

The Cape Verdean minister, quoted by the Inforpress news agency, stressed the fact that the two countries have a similar background, history and culture and the same language noting that, “they have an obligation to create an area of trust, stability and an environment of business of excellence.”

“That is why I consider it very important that in the coming months we will be able to sign two relevant agreements, one to avoid double taxation between Cabo Verde and one for the reciprocal protection of investments,” he announced.

The Cape Verdean Deputy Prime Minister and Finance Minister said that this way “we will have a framework to guarantee the free movement of capital, allowing private individuals and investors to have the best conditions for entrepreneurship in São Tomé and Cabo Verde, and in partnership.” (Macauhub)

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