Paying Taxes in Cape Verde

The table below addresses the taxes and mandatory contributions that a medium-size company must pay or withhold in a given year in Cape Verde, as well as measures of administrative burden in paying taxes.

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Tax or mandatory contributionPayments (number)Notes on PaymentsTime (hours)Statutory tax rateTax baseTotal tax rate (% profit)Notes on TTR
Corporate income tax3 1630.0%taxable profits18.2 
Social Security contributions12 3615.0%gross salaries16.9 
stamp duty on sales12 -0.7%invoice value (purchases)12.4 
Mandatory accident insurance12 -varies by activity (in our case 2%)gross salaries1.6 
tax on interest0 -20.0%interest0.5included in other taxes
Municipal tax on profits1 -2.0%CIT0.4 
property tax1 -3.0%4% building value0.1 
vehicle tax1 -varies by vehicle type 0.1 
stamp duty on checks1 -1.8 CVEper check0 
Advertising tax1 -   small amount
VAT12 4815.0%value added not included
Totals:56 100  49.7 


Notes:
Name of taxes have been standardized. For instance income tax, profit tax, tax on company's income are all named corporate income tax in this table.
The hours for VAT include all the VAT and sales taxes applicable.
The hours for Social Security include all the hours for labor taxes and mandatory contributions in general.