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CV Tax 2024

iCalculator™ CV: Cape Verde Tax Calculators

Welcome to iCalculator™ CV, your comprehensive suite of free tax calculators for Cape Verde. iCalculator™ has provided free tax calculators for Cape Verde since 2019. Since those early days we have extended our resources for Cape Verde to includes Tax Guides, Tax Videos and enhanced the tax calculators and supporting tax information. The Cape Verde Tax Calculator and salary calculators within our Cape Verde tax section are based on the latest tax rates published by the Tax Administration in Cape Verde. In this dedicated Tax Portal for Cape Verde you can access:

Cape Verde Tax Calculator 2024/25

The Cape Verde Tax Calculator below is for the 2024 tax year, the calculator allows you to calculate income tax and payroll taxes and deductions in Cape Verde. This includes calculations for

  1. Employees in Cape Verde to calculate their annual salary after tax.
  2. Employers to calculate their cost of employment for their employees in Cape Verde.
Cape Verde Tax Calculator 2024
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Advanced Cape Verde Salary Calculator
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Discover Cape Verde

Cape Verde, also known as Cabo Verde, is an island country located in the central Atlantic Ocean, off the west coast of Africa. It is an archipelago comprising 10 volcanic islands, which are divided into the Barlavento (Windward) and Sotavento (Leeward) groups. The country is situated about 570 kilometers west of Senegal, the nearest mainland African country. Praia, located on Santiago Island, is the capital and largest city of Cape Verde.

The culture of Cape Verde is a rich blend of African and Portuguese influences, reflecting its history as a Portuguese colony. Portuguese is the official language, and the country has a strong tradition in music, especially genres like Morna and Funaná. The Cape Verdean diaspora, particularly in the United States and Europe, also plays a significant role in the country's cultural and economic life. Cape Verdeans are known for their "morabeza," a term that signifies hospitality and warmth in welcoming others.

The economy of Cape Verde is relatively small and is primarily service-oriented. Tourism is a significant contributor to the economy, with the country's beautiful beaches, pleasant climate, and vibrant culture attracting visitors from around the world. The archipelago's strategic location along major shipping routes also benefits its maritime economy. Agriculture plays a limited role due to the arid climate and lack of natural resources, making the country reliant on food imports. Remittances from Cape Verdeans living abroad are another important source of income for the country.

Cape Verde's economy faces challenges such as a lack of natural resources, dependence on imports, and vulnerability to external shocks. However, the government has been focusing on developing renewable energy, promoting sustainable tourism, and improving infrastructure to diversify the economy and reduce dependence on external factors. For more detailed information about Cape Verde's neighboring countries, you can visit the respective pages on iCalculator for Senegal (Senegal) and other nearby West African countries.

Overview of Taxation in Cape Verde

The taxation system in Cape Verde is designed to support the country’s economic development and fund public services. It includes a combination of direct and indirect taxes. Direct taxes consist of personal income tax, which is levied on the income of individuals, and corporate income tax, applied to the profits of companies operating in Cape Verde. The personal income tax system in Cape Verde is progressive, with rates increasing as income levels rise, while corporate tax rates are structured to encourage business growth and investment.

Indirect taxes play a significant role in the Cape Verdean tax system. This includes value-added tax (VAT) on goods and services, which constitutes a major source of government revenue. Excise taxes are imposed on specific goods, such as tobacco and alcohol. Additionally, customs duties are levied on goods imported into the country, contributing to the national treasury and regulating foreign trade.

Property taxes and stamp duties are also part of Cape Verde’s taxation system. The government has implemented various tax incentives and exemptions, particularly for investments in key sectors like tourism, renewable energy, and technology, to stimulate economic growth and attract foreign investment. These measures aim to diversify the economy and enhance fiscal stability.

For those seeking detailed information on Cape Verde’s current tax laws and guidelines, the latest tax tools and tax tables provide essential resources. These tools offer comprehensive insights into Cape Verde’s tax environment, aiding businesses and individuals in effective tax planning and compliance.