The 2013 income tax rates and allowances which apply at the BES Islands were published In the Official Gazette of 5 February 2013, Decree No. DB 20103-38M of 30 January 2013.
For the year 2013 the tax rate for income from a substantial interest is 25%. The income tax rates include 26.3% for old age and surviving spouse social security which in 2013 is levied on a maximum amount of USD 29,434. From 2013 the Penalty Law applies if the tax office takes too long to declare a final assessment.
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