What are the taxes relating to property in Cape Verde?
Transfer Tax (IUP): 3% of the attributed value (To be paid at completion). Annual Property Tax:3% on 25% of the attributed value, which can be paid in one or two instalments. Inheritance Tax:3% of the attributed value. Gifts of Property:3% of the attributed value. Capital Gains Tax: Considering that in Cape Verde 1) land sold for construction is taxable if the sale price is 200% greater than the original purchase price and 2) any other property is taxable if the sale price exceeds 30% of the original purchase price then Capital Gains Tax (“Mais Valia”) on property is 3%, based on 70% of the increase in value, excluding the allowances detailed in (1) & (2) above.
