Africa-Press – Angola. The chairman of the Board of Directors of the General Tax Administration (AGT), José Leiria, stated that the perspective of tax reform tends to reduce tax rates and not to increase them.
The manager defended this position at the Business Forum on “The Impact of Tax Legislation on Attracting Foreign Investment”, organized by the American Chamber of Commerce in Angola (AmCham-Angola).
“Tax reform is a process of continuous improvement and the State expects, soon, to implement updates in the tax system”, he said quoted by the Jornal de Economia & Finanças, this Friday’s edition.
With regard to income taxation, José Leiria added that the work is taking place, “in the sense that we will no longer have schedular taxes in Angola, that is, “we will have a single tax on the income of legal persons or companies, a single tax on the income of individuals and even a single tax that will tax micro-business activities”, he said.
He also explained that in 2014, with the exception of Consumption Tax, all debts incurred up to 31 December 2012 were forgiven and, in 2018, Law No. the OGE 2019, allowing the total forgiveness of fines and interest on debts constituted until December 31, 2017 – Exceptional Regime for the Regularization of Tax and Customs Debts.
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