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ST Tax 2024

iCalculator™ ST: Sao Tome and Principe Tax Calculators

Welcome to iCalculator™ ST, your comprehensive suite of free tax calculators for Sao Tome and Principe. iCalculator™ has provided free tax calculators for Sao Tome and Principe since 2019. Since those early days we have extended our resources for Sao Tome and Principe to includes Tax Guides, Tax Videos and enhanced the tax calculators and supporting tax information. The Sao Tome and Principe Tax Calculator and salary calculators within our Sao Tome and Principe tax section are based on the latest tax rates published by the Tax Administration in Sao Tome and Principe. In this dedicated Tax Portal for Sao Tome and Principe you can access:

Sao Tome and Principe Tax Calculator 2024/25

The Sao Tome and Principe Tax Calculator below is for the 2024 tax year, the calculator allows you to calculate income tax and payroll taxes and deductions in Sao Tome and Principe. This includes calculations for

  1. Employees in Sao Tome and Principe to calculate their annual salary after tax.
  2. Employers to calculate their cost of employment for their employees in Sao Tome and Principe.
Sao Tome and Principe Tax Calculator 2024
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Discover Sao Tome and Principe

Sao Tome and Principe, a small island nation, is located in the Gulf of Guinea off the western equatorial coast of Central Africa. This country consists of two main islands: Sao Tome and Principe, and several smaller islets. It is situated near the equator, with Gabon to the east on the African mainland, and is surrounded by the vast Atlantic Ocean. Despite its relatively isolated location, the country boasts a vibrant culture and rich biodiversity.

The cultural fabric of Sao Tome and Principe is a blend of African, Portuguese, and Creole influences, reflecting its colonial past and diverse communities. Portuguese is the official language, and the islands are known for their lively music and dance traditions, particularly Tchiloli, a unique form of musical theatre. The country's cuisine is a delicious combination of African flavors and Portuguese culinary traditions, featuring seafood, tropical fruits, and spices.

The economy of Sao Tome and Principe is small and largely dependent on agriculture, with cocoa being the dominant crop and main export product. The agricultural sector employs a significant portion of the population, though it faces challenges such as limited arable land and the need for modernization. In addition to agriculture, the country is exploring ways to diversify its economy, including developing its tourism and fishing industries.

Cocoa production remains the backbone of the economy, but the government and international partners are working to diversify agricultural exports. This includes promoting the production of coffee, palm oil, and spices. The focus is on sustainable and organic farming methods to increase market value and ensure environmental conservation.

Tourism is seen as a key area for economic growth, capitalizing on the islands' pristine beaches, lush rainforests, and rich cultural heritage. Efforts are being made to develop eco-tourism and attract visitors seeking unique and sustainable travel experiences. The sector faces challenges, such as the need for improved infrastructure and services, but holds significant potential for development.

With its extensive maritime territory, Sao Tome and Principe aims to expand its fishing industry and explore other aspects of the blue economy, such as marine resources and oceanic conservation. This includes efforts to manage fisheries sustainably, protect marine biodiversity, and investigate the potential for marine-based renewable energy.

In conclusion, Sao Tome and Principe is a small but culturally rich nation with an economy currently based largely on agriculture, particularly cocoa production. The country is exploring diversification strategies, focusing on tourism, fishing, and sustainable development to enhance economic growth and resilience. Despite its size, Sao Tome and Principe offers a compelling blend of natural beauty and cultural depth, with untapped potential for economic development.

Tax Overview of Sao Tome and Principe

The taxation system in Sao Tome and Principe is structured to support the country's social and economic development. It comprises various types of taxes applied to individuals, businesses, and goods and services. The system aims to balance the need for government revenue with promoting economic growth and ensuring fairness among taxpayers.

Personal Income Tax

Personal income tax in Sao Tome and Principe is levied on the worldwide income of residents, while non-residents are taxed only on income sourced within the country. The tax system is progressive, aiming to ensure that individuals contribute to public finances in proportion to their ability to pay.

Corporate Tax

Corporate tax applies to the profits earned by companies operating in Sao Tome and Principe. The system is designed to encourage business investment and growth while ensuring that companies contribute their fair share to the economy. Special regimes and incentives may be available for certain sectors or activities to stimulate economic development.

Value-Added Tax (VAT)

Value-Added Tax (VAT) is a significant source of revenue for the government, applied to most goods and services sold in Sao Tome and Principe. The VAT system plays a crucial role in the country's taxation strategy, aiming to distribute the tax burden evenly across different sectors of the economy.

Customs Duties and Excise Taxes

Customs duties and excise taxes are levied on certain imported goods to protect local industries and generate revenue from international trade. These taxes vary according to the type and value of the goods, aligning with the country's economic policies and international agreements.

Tax Administration and Compliance

The tax administration in Sao Tome and Principe is responsible for enforcing tax laws, collecting taxes, and facilitating taxpayer compliance. Efforts to modernize the tax system include implementing electronic filing and payment systems to improve efficiency and reduce the administrative burden on taxpayers.

The taxation system in Sao Tome and Principe is evolving, reflecting the country's economic priorities and the need for sustainable revenue sources. As the government seeks to diversify the economy and attract investment, understanding the tax landscape is crucial for businesses and individuals. For those looking to stay informed about taxation in Sao Tome and Principe, including the latest tax tools and tables, visiting our tax hub is highly recommended. This resource offers valuable information to navigate the complexities of the tax system effectively.