imageSão Tomé and Príncipe | Decree-Law no. 15/2016, of 17 November 2016

Tax Benefits Code

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Decree-Law No. 15/2016 TAX BENEFITS CODE The current state of our economy, coupled with the international financial crisis, requires that the Government adopts a series of measures, especially the creation of a set of tax incentives as a way to provide and increase private foreign investment in São Tomé and Príncipe, as a mechanism of wealth creation, economic growth and poverty reduction. These measures undoubtedly involve the adoption of a legal framework concerning the tax benefits to be granted as a vehicle for promoting and attracting investments. The economic growth of the country must be encouraged and even supported by creating attractive special conditions that lead an investor to decide to do business in our country, compared to other countries in competitive conditions. However, the tax reform implemented in our legal system that endowed the country with the most modern tax laws, providing the Tax Administration with legal-fiscal instruments to combat fraud and tax evasion, thus introducing greater tax equity, in accordance with the principles of legality and contributory capacity, has failed to systematically create the conditions of attraction for the investments necessary for the growth and development of the country's economy.