Praia, Jan 16 (Inforpress) – The State of Cabo Verde needs to collect at least 43 million escudos of taxes per year, said the deputy prime minister, Olavo Correia, who believes that the country is able to achieve this goal still in 2018.
The finance minister, who was speaking to journalists on the sidelines of the workshop on the Cabo Verdean tax competitiveness in the city of Praia, said that the country is now able to raise about 40 million escudos, but needs more to ensure that it continues to function without recourse to debt.
The study indicates that there is still huge potential in tax collection material and, among other measures, pointed to the increase in the tax base through the formalization of the economy, the fight against tax evasion and avoidance and the creation of conditions for a tax administration more efficient.
“There is a lot of informality in Cabo Verde, we have to formalize the economy on the one hand, but we have to fight against tax evasion and avoidance, and with that we can increase the tax base. We will also bet on a more efficient, but more zealous and more fulfilling tax administration with more human resource, institutional and technological means for everyone to pay taxes and each pay less, “he said.