Cape Verdean Government revises Tax Benefit Code

5 December 2019

The Cape Verdean government will revise the Tax Benefits Code and a bill is due to be considered in parliament this month, Deputy Prime Minister and Finance Minister Olavo Correia said on Wednesday in Praia.

The minister, who was speaking at the end of a parliamentary hearing of the Specialised Finance and Budget Committee, for the consideration of the proposed State Budget for 2020, said that there is a part of the bill that is in the Budget law, but that the most structural is part of a package related to amending the Tax Benefits Code.

“The state budget is valid for one year, but the tax benefits are valid for five to 10 years, so it makes no sense to be putting the two things together,” said Correia, quoted by Inforpress.

The minister said that the government’s central idea is to ensure the implementation of a moderate and single tax framework and a simplified scheme within a decade. (Macauhub)