Cape Verde 2024 Tax Changes Include Corporate Tax Rate Reduction, New Group Tax Regime, Indefinite Loss Carryforward, and Others

Cape Verde has introduced several tax changes as part of the State Budget Law for 2024 (Law No. 35/X/2023). The main measures include:

• A reduction of the corporate income tax rate from 22% to 21%;
• The introduction of a new tax group regime allowing for the transfer of losses incurred by a group company to another group company;
• The introduction of a deduction for the capitalization of companies, allowing companies to deduct an amount equal to 10% on eligible equity increases, subject to an a…