Africa Angola Economy Tax

Angola suspends over 30 companies for illegal VAT charge

Thirty one commercial stores were suspended since October 3 due to Value Added Tax illegally charge on their sales.

The commercial stores were closed down during the ”Operação Baixa de Preços” (Low price operation) by the multi sector supervision teams that were set up after the VAT implementation on October 1, to inspect the commercial activities.

According to the Trade General Inspector, Fernando Catumbila, 10 of these stores have already been reopened and forced to lower their prices.

The official stated that the decision to reopen initially suspended establishments or the order to lower prices is related to the recognition that there was poor information on VAT and that there is distortion on the part of consumers, economic operators and even provincial Inspection offices.

When this happens, the Trade Inspection finds many constraints on the consumer market, Fernando Catumbila acknowledged, adding that, to fill the gap, the Trade Inspection Department will conduct training on Value Added Tax matters for trainers, whio, in their turn, will continue to train the sector’s agents in the remaining 17 provinces.

He also affirmed being necessary to keep the inspection’s actions in order to identify the market behaviour due to inclusion of the VAT, by deploying trade inspection teams all over Luanda.

Two days after the VAT implementation, the Trade Ministry and Finance Ministry came public and announced the launch of awareness teams made up of officials from the General Trade Inspectorate, AGT (General Tax Administration) and INADEC (National Institute for Consumer Support and Protection) with the aim of further clarifying taxpayers and correcting those using the wrong calculations for their taxes.

Officials of the Criminal Investigation Service (SIC) are also part of the process, with a view to the taking of legal measures in cases of recurrence or obvious bad faith.

Source: Angop

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