Africa Angola Economy Finance Government Tax

Angola: VAT reimburses £4.2M

At least 114 billion kwanzas were collected between January and February this year, under the Value Added Tax (VAT), which made it possible to reimburse 2.6 billion kwanzas to adherent taxpayers.

The data were released on Monday, March 16 in Luanda by the administrator of the General Tax Administration (AGT), Hermenegildo Cosse, stressing that, although having entered into force only in October last year, it reached more than 141 billion kwanzas, getting to 90% of the objective of the General State Budget (OGE).

According to the AGT’s manager, in all its sectors and services, namely 48 tax offices, 36 customs delegations, 79 border posts, with the engagement of 3,800 workers, has sought to ensure the implementation of VAT.

Hermenegildo Cosse, who was speaking at the meeting on “VAT refund and exemption for diplomatic missions”, said that the AGT registered more than 3,034 taxpayers under the general regime, 3,500 under the transitional regime and 5,000 under the non-submission regime.

The process of VAT implement in Angola is one of the most important steps taken by the Government on the path of structural reform of the tax system, as provided for in the National Development Plan 2018-2022, as a central instrument for leveraging non-oil tax revenue, and for the recovery of budgetary strength in Angola.

In his view, the Angola ongoing VAT model is based on important assumptions that must be preserved and emphasized, namely, the minimum of exemptions, single rate, electronic tax procedures, as well as the assurance and speed of refunds.

“Only in this way and through strict compliance with the rules of the VAT Code in which everyone participates in the important effort to contribute to the coverage of public expenses, through the exercise of fiscal citizenship,” he said.

Source: Angop

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

%d bloggers like this: