2023-06-01 20:15:02
VAT, Value Added Tax, is a reality as of this Thursday, June 1st in São Tomé and Príncipe. With the implementation of this tax, the government intends to collect about twenty million escudos a month, corresponding to 800,000 euros.
The technicians from the tax department are supervising the implementation of this tax, as mentioned by the tax department technician, Nilton Cravid.
“We are on the ground precisely to see how taxpayers are reacting to the first day of VAT implementation.”
Some citizens like Paloma Castro, head of a service provider company, were heard by RFI.
“On the one hand it is a gain, it is something the country needs: the implementation of VAT, it is an international norm.”
Other citizens also referred to this tax.
“The São Toméans are not used to this type of tax, and so it is another problem that will bring, again, in the lives of the São Toméans.”
“VAT will further increase the cost of living for São Toméans!”
The jurist and director of customs, Herlander Medeiros, talks about the mitigation of the mentioned tax.
“The original idea of VAT was 15% for all junk subject to definitive importation. However, to mitigate the impacts on some essential products, we have a rate of 7.5%.”
Listen here to our correspondent Maximino Carlos in São Tomé and Principe:
By Maximino Carlos
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