São Tomé and Príncipe | 2020.04.23
Extraordinary Budgetary Measures due to the Covid-19 Pandemic

Extraordinary budgetary measures were taken due to the Covid-19 pandemic which were approved by Law n. º 4/2020, of April 21st 2020. However, their implementation is dependent on the mobilizing of funds from partners that contribute to the State Budget, and further Government regulations, and when necessary, issuance of Orders by the relevant Ministries.

Of worthy note are the suspension of certain provisions of the Labour Code, the creation of tax incentives and credit lines, and, notably, the creation of a contribution/solidary tax towards a Resilience Fund, to be withheld by the employers from salaries of employees the public sector as well as of employees of the private sector which are not affected by the pandemic.

For further information, please contact:
Maria Figueiredo - Maria.Figueiredo@mirandalawfirm.com
Geneleyse Franca e Lagos - Geneleyse.Lagos@stpcounsel.com

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