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Macau, Cape Verde sign tax agreement

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Macau and Cape Verde yesterday signed an agreement to avoid double taxation and tax evasion. Macau’s secretary for Economy and Finance, Francis Tam Pak Yuen, and Cape Verde’s State deputy secretary, Humberto Brito, signed the convention.
The arrangement is meant to avoid double taxation by both jurisdictions on the same income of Cape Verde nationals or Macau residents.
In MSAR the agreement will affect the professional tax, the complementary income tax, and investments. It will also make life easier for companies operating in both markets.
The convention with Cape Verde was the fifth one signed by the MSAR Government, after mainland China, Portugal, Belgium and Mozambique.

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