Africa Angola Economy Tax

Angola: Tax revenues drop 46% in 3rd quarter

Tax revenues in Kwanza Norte province declined from July to September this year from 3.3 billion (AKz) to 1.4 billion, down 1.8 billion 46%) compared to the previous quarter.

The low tax collection, according to data from the provincial finance delegation to which Angop had access this Monday, was due to the current difficult context of the national economy that has been negatively influencing taxpayer activity, associated with the extinction of the national beer consumption tax, previously paid by brewer EKA – the largest contributor of the province.

Among the nature of the revenues collected, the source highlights the income tax on labor account with a balance of 444 million 781 kwanzas (corresponding to 42.5 percent), excise tax with 285 million (27 per cent), along with the tax on profits from economic activity with 294 million kwanzas (19.6 per cent).

Source: Angop

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