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Cabo Verdean economic operators against VAT increase from 15 to 17%

Praia, Nov 18 (Inforpress) – The Cabo Verdean economic operators have taken a stand against the increase in the Value Added Tax (VAT) from 15 to 17%, stressing that “the time is not opportune” to increase taxes and the prices of other basic products.

In a conversation with journalists following a meeting held with the press as part of the Cabo Verde International Fair (FIC) program, the president of the Sotavento Chamber of Commerce, Jorge Spencer Lima, declared himself “absolutely” against the increase in VAT.

“We understand that this is not the time to raise taxes. Companies have not yet come out of the suffocation. We’re looking at the end of the tunnel, but we haven’t reached the end of the tunnel yet. The timing is inappropriate. All these increases we have been checking, we think we should find other solutions”, he stated.

The representative of the private sector in the Southern region of the country, said he is aware that the State has to be financed in order to work, but stressed that the Government could stand a little longer, both in the increase in VAT and in the prices of electricity and other basic goods.



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