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Cape Verde Amending State Budget for 2020 Presented in Parliament

09 July 2020

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Proposed Changes

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Cape Verde

Cape Verde's Amending State Budget for 2020 was presented in parliament on 1 July 2020, which primarily includes measures in response to COVID-19. Some of the main measures include: A 10% reduced VAT rate on: hotel accommodation services and catering services; all services provided by tour operators classified as micro, small, or medium-sized enterprises; and services provided by entities with tourist utility status that promote cultural events; Advance corporate tax payment relief for September and December 2020, which includes either: the advance payment amount is equal to 10% of the tax assessed in the previous year; or the advance payment...