Africa Angola Economy Finance Legislation Tax

Angola large taxpayers revenue increases 14%

At least 79.7 billion kwanzas were collected in October this year by the General Tax Administration (AGT), with the taxation of Large Taxpayers – an increase of 14% over the same period of 2018.

The data were advanced this Wednesday, in Luanda, by AGT administrator, Hermenegildo Cosse, during the V sector meeting with the insurance companies operating in the country.

As part of the ongoing tax system reforms, AGT discussed with insurance operators the application of Value Added Tax (VAT), which has been in force since October.

The meeting aimed to inform about the different tax obligations of the insurance sector, in light of the recent legislative changes on Stamp Duty, Industrial, Labor Income, Value Added, among others.

Insurers are required to issue collection notices as long as they comply with the new rules on invoices and equivalent documents (RJFDE).

In the absence of conditions, insurers may also issue invoices or equivalent documents printed in authorized printers up to the 5th business day following their operation.

Source: Angop

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