Cabo Verde Gazettes 2023 State Budget Law

The Cabo Verdean Official Gazette Dec. 30, 2022, published Law No. 16/X/2022, the 2023 budget. The law includes measures: 1) establishing R&D tax deductions, available from 2023 to 2038, for qualifying corporate taxpayers; 2) exempting profits reinvested by technology-based companies authorized to operate in the Special Economic Zone for Technologies (ZEET); 3) allowing corporate taxpayers to deduct up to 2 percent of their capital contributions made to eligible startups, and micro and small companies; 4) allowing corporate taxpayers to deduct 130 percent of the cost of qualifying expenses to acquire electronic accounting and billing equipment and software, and purchase water ...