CABO VERDE LAW AND PRACTICE Contributed by: Nelson Raposo Bernardo, Joana Andrade Correia, Manuel Esteves de Albuquerque and Mafalda Contumélias Batista, Raposo Bernardo & Associado s
CIT benefits A CIT credit is available for up to 30% of the eligible investments made in renewable energies projects. Customs duty benefits A reduced rate of 5% of customs duties and other customs charges applies on the importa - tion of capital goods, raw materials and sup - plies, finished and semi-finished products, and other materials that are incorporated or used in the production of goods or services involved in the production of electrical energy from renew - able sources. IUP and stamp duty Exemptions from IUP and stamp duty are grant - ed on the acquisition of immovable property and other assets related to the investment project or its financing. Interest rate support for micro production of renewable energies Interest rate support of 50% is granted on the interest on loans borrowed from financial insti - tutions by families and by duly incorporated micro and small companies for the acquisition of equipment and installation services aimed at the micro production of renewable energy in accordance with the applicable legislation. This support shall apply to final consumers covered by the normal low voltage category. Shipping Transport Industry Incentives CIT benefits A CIT credit is available for up to 30% of the eligible investments made in shipping, air and sea transportation projects. Customs duty benefits A reduced rate of 5% from customs duties applies on the importation of shipping material
for the maintenance, production and repair of shipping and respective equipment. IUP and stamp duty Exemptions from IUP and stamp duty are grant - ed on the acquisition of immovable property and other assets related to the investment project or its financing. Job Creation Incentives Entities taxed under the verification method are entitled to deduct the following amounts for each permanent job created: • CVE26,000 for each job created in the munic - ipalities of Boa Vista, Praia and Sal; • CVE30,000 for each job created in the remaining municipalities; and • CVE35,000 in the case of a disabled person. Taxpayers covered by the organised account - ing regime shall be entitled to a tax credit of CVE20,000 for each unemployed person hired for a minimum of 12 months. Media, Telecommunications and the Internet The importation of goods, materials, equipment, vehicles and other equipment exclusively for the purpose of telecommunications and media is exempt from customs duties. Incentives for the Importation of Vehicles Exemptions from customs duties, excise duty and VAT are granted for the following for 2025: • the importation of heavy passenger vehicles for the collective transport of passengers comprising more than 30 seats, including the driver, when imported by duly licensed com - panies operating in the respective sector; • the importation of heavy passenger vehicles for the collective transport of passengers
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