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Angola Tax Administration collects over Akz 2.1 trillion

Approximate reading time: 2 minutes

The General Tax Administration (AGT) has collected Akz 2.1 trillion of taxes from September 2016 to September this year (Usd 1 is Akz 166).

The information was released by AGT official, Ngouabi Mariano Salvador, who added that of the amount above, 55% came from the oil sector, while the other sectors of the economy responded for the remainder 45%.

According to the source, in comparison with the previous period, the above mentioned amount shows a rise of 41,4%, as the oil revenue recorded a growth of 115% and the non-oil one showed a drop of 0,54%.

Speaking at a lecture on the Angolan Tax System for journalists, as part of a programme taking place from 9-20 October in Luanda,  Ngouabi Salvador said in September this year the tax collected amounted to Akz 123.5 billion.

Of that amount, the source explained, 36.3 billion (29,4%) came from the oil sector and Akz 87.2 billion (70,6%) from the non-oil sector.

This, he added, shows a drop in oil revenues of 83% as compared with the preceding month, while the contribution of other sectors  indicate a drop of 35%.

The source further stated that in September 2016, there was a drop of 43% in the oil revenue and 17% in the non-oil sector.

Ngouabi Salvador said the implementation of the Tax Reform Programme (PERT) from 2010 to 2015 has had an extraordinary impact on various sectors.

He added that PERT has increased the tax revenue from the oil sector to 132%, corresponding to an accumulated amount of Akz 1.3 billion, coupled with the rise in the contribution of the non-oil sector amounting to 52%.

Source: Angop

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