imageSão Tomé and Príncipe | Law No. 1/2020, of 17 January 2020

General State Budget 2020

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NATIONAL ASSEMBLY Law No. 01/2020 General State Budget for the Economic Year of 2020 Preamble The National Assembly, under the terms of subparagraph (b) of Article 97 of the Constitution, hereby decrees the following: CHAPTER I Budget Approval ARTICLE 1 Purpose The General State Budget (OGE) [OGE - Orçamento Geral do Estado] for the economic year of 2020 is hereby approved, according to the estimated revenue, taxation of expenses and funding sources of the budget deficit programmed to that effect. […] CHAPTER II Budgetary Implementation ARTICLE 8 Revenue collection 1. Collection of all revenue by any services of the State's Central Administration, including those of external origin, aimed at the Santomean State, shall be centralized, as a rule, in the Single Treasury Account. 2. All the services of the State's Central Administration legally authorized to collect revenue shall be required to proceed with their immediate transfer, without deductions or withholdings to the Treasury Account based on the Central Bank of São Tomé and Príncipe. 3. For the purposes of the preceding paragraph, the services must deposit the amounts collected in the Treasury Account in the Central Bank, or in another designated banking institution, within a period of time to be determined by order of the Minister in charge of Finance. 4. For the purpose of Consumption Tax on the Provision of Services, the following shall be taxable persons of this tax: