Cabo Verde Gazettes Law Amending Special Regime for SMEs

The Cabo Verdean Official Gazette Feb. 2 published Law No. 116/IX/2021, amending the special regime for small and medium enterprises (SMEs). The law includes measures: 1) clarifying withholding taxes for different income categories; 2) applying a 10 percent VAT rate on qualified transactions under the regime; 3) providing mandatory electronic invoicing under the regime; 4) explaining the scope and application of the regime to SMEs; 5) imposing a 4 percent special unified tax on qualified revenue; 6) explaining tax payment procedures and reporting obligations; 7) providing tax loss deductions; 8) exempting qualified contracts from stamp taxes; 9) clarifying property tax ...