The International Monetary Fund (IMF) has granted a loan of US$1.4 million to São Tomé and Príncipe to help improve the country’s Tax Administration, the director of that department said.
Olinto Costa said it was a three-year project to introduce Value Added Tax (VAT) in 2019.
The funding will help improve the São Tomé tax administration, train staff and pay an adviser from the International Monetary Fund (IMF), who will work in the country for a few months.
The government intends to introduce VAT from 1 January 2019, and the IMF has decided to “provide long-term technical assistance” to the Ministry of Finance, Commerce and the Blue Economy. (macauhub)