The Government proposed this Thursday, in the context of the discussion in Parliament of the proposal to amend the general tax code, the breach of bank secrecy for tax purposes without judicial authorization, that is, through administrative procedures.
When presenting the proposal for the second amendment of Law no. 47/VIII/2013 of December 20, which approved the General Tax Code, the Deputy Prime Minister and Minister of Finance, Olavo Correia, said that the proposal fits in reinforcing the principle of transparency and combating tax evasion and evasion and strengthening the efficiency and effectiveness of tax administration.
Olavo Correia clarified that bank secrecy constitutes a dimension of the fundamental right that has to do with the privacy of private life, indicating that in Cape Verde the same is enshrined in the basic law of the financial system.
However, he stressed that this banking secrecy is not presented as an absolute right, but rather as a relative right that includes exceptions through which the disclosure of protected elements is allowed to third parties.
Source: Inforpress