The State of emergency in São Tomé and Príncipe was recently extended until 16 May. In this context, new measures to tackle the crisis were approved and a Resilience Fund created.
Special highlight goes to the creation of a special labour relationship suspension regime, moratoriums for payment of taxes, Social Security and bank debts as well as the suspension of State award of works and services. The Resilience Fund will be made up of, amongst others, a new temporary tax, called Special Contribution (“SC”).
The SC will be collected for a period of three months. The top rate is 7% (for the private sector this applies for salaries over Novas Dobras 20,900).
This new regime came into force on 8 May.