The island nation of São Tomé and Príncipe, off the west coast of Africa, has announced plans to introduce a Value Added Tax regime. The new VAT system will be introduced by 2017.Currently, the country has a sales tax on goods (up to 140%) and services (5%).
São Tomé e Príncipe Visa and Passport Requirements
The Republic of Sao Tome and Principe is a lower middle income, developing small island state with a fragile economy. It is highly vulnerable to exogenous shocks.
São Tomé and Príncipe’s economic growth has been driven by cocoa production and a nascent tourism sector. Strong cocoa exports, increased foreign direct investment, and donor-financed infrastructure projects have propelled expansion of the small island economy in recent years.
Employed persons, including civil servants and military personnel, self-employed persons, and household workers.
The Sao Tome and Principe economy grew by 5.3% in 2015, up from 4.5% in 2014. Economic growth is expected to remain above 5% in 2016 and 5.4% in 2017. Increased foreign direct investment in construction, agriculture, tourism and new projects funded by donors should lead and boost future...
Cost of Living in Sao Tome And Principe
With Africa’s population set to double by 2050, modernising local economies will be vital to make the continent more competitive and to increase people’s living standards, according to the African Economic Outlook 2015, released at the African Development Bank Group’s 50th Annual Meetings.
This is a cost of living indicator. The figure shows how much how much a bundle of goods and services costing US$1 in the US would cost in other countries (similar to The Economist’s Big Mac Index).
Below is a detailed summary of the bureaucratic and legal hurdles faced by entrepreneurs wishing to incorporate and register a new firm in São Tomé and Príncipe. It examines the procedures, time and cost involved in launching a commercial or industrial firm with between 10 and 50 employees and...