Cape Verde State Budget for 2023 Includes New Incentives for R&D and Several Extended Incentives

According to recent reports, Cape Verde's Ministry of Finance presented the State Budget for 2023 on 3 October 2022. Some of the main tax measures include the following new incentives:

• R&D tax incentives from 2023 to 2038 for qualifying resident corporate taxpayers, as well as permanent establishments of non-residents, which are allowed a deduction for R&D expenses at the following base and incremental rates, with any excess carried forward up to 10 years:
  • 40% of the expenses incurre…