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Cabo Verde
Overview
Last reviewed - 13 August 2024The Cabo Verde Islands (Cabo Verde), located off the coast of West Africa, became independent on 5 July 1975. Cabo Verde is a representative democracy, with the capital city of Praia accounting for a quarter of its approximately 500,000 citizens. The languages spoken in Cabo Verde are Portuguese and Crioulo, and the currency is the Cabo Verdean escudo (CVE), which is divided into 100 centavos. Since 1998, an exchange agreement between Cabo Verde and Portugal provides a fixed rate between the euro (EUR) and the Cabo Verde escudo as follows: EUR 1 = CVE 110,265.
While Cabo Verde has few natural resources, it is rapidly becoming established as one of the most exciting new markets for tourism development.
PwC Cabo Verde supports clients with the local knowledge and skills of its people and with access to a broad range of other professionals across the PwC global network of firms. The firm provides assurance, advisory, and tax services through a local presence in Cabo Verde.
Quick rates and dates
| Corporate income tax (CIT) rates | |
|---|---|
| Headline CIT rate (%) |
21.42 (i.e. 21% + 2% surcharge) |
| Corporate income tax (CIT) due dates | |
|---|---|
| CIT return due date |
31 May |
| CIT final payment due date |
31 May |
| CIT estimated payment due dates |
End of March, July, and November. |
| Personal income tax (PIT) rates | |
|---|---|
| Headline PIT rate (%) |
27.5 |
| Personal income tax (PIT) due dates | |
|---|---|
| PIT return due date |
31 March |
| PIT final payment due date |
31 August |
| PIT estimated payment due dates |
NP |
| Value-added tax (VAT) rates | |
|---|---|
| Standard VAT rate (%) |
15 |
| Withholding tax (WHT) rates | |
|---|---|
| WHT rates (%) (Dividends/Interest/Royalties) |
Resident: NA / 20 / 20; Non-resident: NA / 20 / 20 |
| Capital gains tax (CGT) rates | |
|---|---|
| Headline corporate capital gains tax rate (%) |
Capital gains are subject to the normal CIT rate. |
| Headline individual capital gains tax rate (%) |
Disposal of immovable property, intellectual property, shareholdings: 1; Gambling, lottery, betting, prizes awarded in sweepstakes, contests: 20 |
| Net wealth/worth tax rates | |
|---|---|
| Headline net wealth/worth tax rate (%) |
NP |
| Inheritance and gift tax rates | |
|---|---|
| Headline inheritance tax rate (%) |
NP |
| Headline gift tax rate (%) |
NP |
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