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São Tomé and Prí­ncipe Threshold Program

The São Tomé and Prí­ncipe Threshold Program's end date was April 15, 2011. The Threshold Program is now closed.

MCC selected São Tomé and Príncipe to participate in the Threshold Program in FY 2006. When São Tomé and Príncipe was selected as threshold eligible, it did not meet the performance criteria in the Economic Freedom category. São Tomé and Príncipe performed below the median on the Fiscal Policy, Trade Policy and Control of Corruption indicators.

The threshold program targeted the policy areas measured by the MCC eligibility indicator Fiscal Policy. São Tomé’s threshold program included four projects focusing on strengthening tax compliance and enforcement, modifying customs procedures and improving the business environment.

São Tomé and Príncipe Threshold Program Implementation

The threshold program agreement was signed in 2007 by the Ministry of Public Finance of theGovernment of São Tomé and Príncipe and the U.S. Treasury Department’s Office of Technical Assistance, which was responsible for implementing the program on MCC’s behalf. The program concluded in April 2011. The U.S. Treasury Department and the Ministry of Public Finance had primary responsibility for achieving targets and worked through a number of implementing partners throughout the threshold program.

Program Achievements

The program implemented a new tax administration information technology infrastructure, trained staff and taxpayers on the new tax laws. Auditors utilized optimized and transparent policies and procedures for conducting audits. On the customs side, the program also provided extensive improvement of the technology infrastructure, allowing the country to participate in the international standard ASYCUDA customs information system. The program provided assistance in implementing landmark new customs legislation, as well as in joining the World Customs Organization. São Tomé implemented numerous legislative changes to reduce the red tape of business start-up, and created a “one stop shop” for business registration as a result of the program.