Creates the Cape Verdean International Business Centre
01 Mar 2011
It creates the International Business Centre of Cape Verde (IBC), which comprises (i) the International Industrial Centre (Industrial Free Zones), (ii) the International Centre for Commerce (Commercial Free Zones), and (iii) the International Centre for the Provision of Services. Those entities and services providers carrying out industrial or business activities in Cape Verde may register with the IBC. Entities that are duly registered as IBC operators may be eligible for tax and customs benefits, including VAT exemptions and special relief on corporate income tax. Entities carrying out business activities within the tourism sector, banking and insurance, real estate and civil construction are not entitled to the above tax benefits. The abovementioned statute repealed the statutory regime of both the Free Trade Companies (“Empresas Francas”) and the Commercial Free Zones (“Zonas Francas Comerciais”).
-
Type:
-
Promotion and facilitation (Special economic zones)
-
Industry:
-
Sources:
