Cabo Verde

Social security contributions

Employees

Social security contributions are shared by the employee and the employer. In general terms, the contributions are due on the employee’s gross remuneration at rates of 8.5% and 16% by the employee and the employer, respectively. These contributions cover family, pension and unemployment benefits.

Self-Employees

The contributions applicable to self-employees corresponds to a fixed rate of 19.5%.

Consumption taxes

Value-added tax (VAT)

The VAT system in Cabo Verde closely follows the European Union (EU) VAT system and is assessed at the standard rate of 15%.

See the Other taxes section in the Corporate summary for more information.

Special consumption tax

A special consumption tax is imposed at rates ranging from 10% to 150% on goods that are deemed superfluous, luxurious, or undesirable for economic, social, or environmental policy reasons.

See the Other taxes section in the Corporate summary for more information.

Property tax

Property tax (Imposto Único sobre o Património or IUP) at the rate of 1.5% is due on the registered value of real estate owned by an individual.