africa Angola Banking Economy Government Tax

Angola VAT to enter into force in October

The Angolan government and the Entrepreneurial Technical Group (GTE) on Friday, in Luanda, decided to enforce collection of Value Added Tax (VAT) in October this year.

The governmental programme stipulated that the VAT is to enter into force on July 1; however the GTE defended that this should be applied in January 2020.

According to sources familiar with the matter, the new date proposed is pending on the accomplishment of the execution chronogram of tasks of the General tax Administration (AGT) and GTE, which is the government’s partner for private entrepreneurial policies.

The VAT code foresees a single tax rate of 14 percent for all imported goods and taxpayers with profits higher than 15 million of kwanzas, with big public firms and financial banking institutions also included.

Source: Angop

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