The Sao Tome and Principe's new VAT regime enters into force on 1 June 2023. The VAT regime replaces several prior taxes, including the general consumption tax, the tax on services, the tax on alcohol and spirits and cigarettes, the tax on telecommunications and hotel services, and the restaurant tax. The new VAT regime includes a standard VAT rate of 15% on supplies of goods and services, including imports. A reduced rate of 7.5% applies to a basket of basic goods, including rice, flour, pasta, bread, milk, and beans (standard rate on 50% of the value). Exports are zero-rated and...