imageSão Tomé and Príncipe | Decree-Law No. 16/2016, of 17 November 2016

Amendment to the Personal Income Tax Code

Preview Extract:

Decree-Law No. 16/2016 Given that certain inaccuracies detected during the implementation of the Personal Income Tax Code (PIT Code) shall be corrected; Whereas the current table of values to be deducted does not contribute to the compliance with the principle of tax capacity; Whereas this principle calls on the tax administration to take action not to allow any taxpayer with an annual income closer to or above the upper end of the scale to have less disposable income, after the PIT has been paid, than taxpayers with an income equal to the upper limit of the scale; Whereas, finally, there is a need to define the concept of dependents as an element for a tax deduction of personal and family situation; Thus, the Government, under the terms of subparagraph (d) of article 111 of the Constitution of the Republic, decrees the following: