Incentives and credits to encourage job creation
12 Aug 2020
Cape Verde adopted Law No. 100/IX/2020 of 11 August 2020 with effect from 12 August 2020. It introduces a number of amendments, including, inter alia:
• The granting of a corporate income tax or personal income tax credit of CVE20 000 to taxpayers in respect of each employee hired for a minimum of 12 months. A state allowance of up to 50% of the salary received by at least two employees (capped at CVE25 000) is also to be granted to the abovementioned taxpayers that create five jobs or more;
• Corporate entities and businesses operated by individuals, which are affected by the COVID-19 pandemic will be entitled to an additional deduction of 30% of specified eligible expenses incurred as from 25 April 2020.
-
Type:
-
Promotion and facilitation (Investment incentives)
-
Industry:
-
Sources:
