Cape Verde Information about minimum wage and taxes.

Information about minimum wage and tax in Cape Verde is given below: Minimum Wage: In Cape Verde, the minimum wage amount is determined by the government every year. As of 2021, the gross minimum wage amount is determined as 13,000 Cape Verde Escudos (CVE). The net minimum wage amount represents the amount received after taxes and social security deductions are made. Taxes: Personal income tax in Cape Verde is applied at different rates depending on income level. Income tax rates are classified as follows: - There are income tax rates applied in brackets ranging from 0% to 10%. - While 0% tax is applied for income up to 50,000 CVE, 5% tax is applied for income from 50,001 CVE to 75,000 CVE, and 10% tax is applied for income from 75,001 CVE to 150,000 CVE. - For income over 150,001 CVE, 11% tax is applied. Additionally, Cape Verde also has a consumption tax (VAT). Although the VAT rate varies depending on the type of goods and services, it is generally applied as 15%. The above information serves as general information. Tax rates and minimum wage amounts may change over time, so it is important to confirm current information with local tax authorities or experts.

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