imageGuinea Bissau | Decree No. 8/84, of 3 March 1984

Capital Tax Code

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COUNCIL OF MINISTERS Decree No. 8/84 of 3 March 1984 The publishing of the Capital Tax Code completes the taxes reform on partial income. This statute applies to the income of the different capital investments and replaces the old interest Contribution that has collapsed in such a way as an instrument of revenue collection to the point that its budgetary importance is already meaningless. Eventually unnecessary in the current context, this Code seems to be indispensable for the maintenance of the tax system coherence and not to leave tax revenues immune to tax authorities, even if such income is slightly significant. The main purpose of this Code consists on its adequacy to the taxation of income that, in the short term, might accrue interest on deposits. This explains that it should only be applied when the special conditions of financial circumstances justify it. It is thus an instrument at the disposal of the Government to be use whenever it deems necessary. Therefore; Upon proposal of the Minister of Economy and Finance, in the use of the powers conferred upon it by subparagraph (c) of art. 10 and art. II of the respective Statute, approved by Decision No. 4/81, of 29 January 1981, the Provisional Government hereby decrees the following: Article 1 The Capital Tax Code, which forms an integral part of this Decree, is hereby approved.