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Cabo Verde Opposition Calls for Reduction in VAT on Tourism to Boost Economy

  • The largest opposition party in Cabo Verde, PAICV, is calling for a reduction in the VAT rate on tourism from 15% to 10%.
  • The party also proposes a wage increase for all professional categories, an increase in the minimum wage, and an increase in social pensions and minimum pensions.
  • They also want a reduction in the tax burden for companies and an increase in the minimum exemption for salaries.
  • The PAICV expects the prime minister to be open to their proposals for the state budget bill.
  • The 2024 state budget bill is criticized for being unrealistic, untransparent, and penalizing the middle class.
  • The ruling party defends the budget, stating that it is the biggest and most ambitious in the country’s history and designed to face uncertain times.
  • The budget is said to reflect the government’s strategic vision and aim for well-being and stability for all citizens.
  • The opposition party UCID criticizes the budget for not solving major problems in sectors like transport and calls for increased salaries and meeting the minimum wage.
  • The 2024 State Budget bill amounts to 86 billion escudos and forecasts growth, inflation, deficit, and public debt percentages.
  • The government aims for a reduction in the unemployment rate and an increase in the minimum wage.

Source: macaubusiness.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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