Africa-Press – Angola. The General Tax Administration (AGT) rules out the possibility of reducing the Value Added Tax (VAT) in the coming months in Angola, as advertised on social networks.
“The reduction or change of VAT in the country is not foreseen so soon, without creating all the assumptions required for changing the tax benefits”, said this Monday, in Luanda, the administrator of AGT, Tiago Santos.
When answering questions from journalists at a press conference on the balance of activities carried out in 2022 and the first quarter of this year, the official clarified that any change in tax taxes obeys a series of assumptions and passes through the “scrutiny” of the National Assembly.
On the occasion, he referred that, currently, the country has four VAT rates: Cabinda’s special regime, with a rate of 2%, two reduced/subsidy rates of 5% and 7%, respectively, as well as the general regime of 14 %.
VAT allows collection of Kz 290.2 billion in three months
During the first quarter of 2023, VAT was the main tax collected, amounting to 290.2 billion kwanzas, which corresponds to a 30% share of the total collected and a 9% growth compared to the same period last year, according to Tiago Saints.
Since the implementation of VAT, in the year 2019 to March 2023, around 608 taxpayers have requested refunds.
According to the source, the value of refund requests has grown over the years, in 2022 was the year in which the most refund requests were registered, around 467 requests, and amounted to Kz 14.2 billion. These requests resulted in the reimbursement of 60.5 billion kwanzas.
On the other hand, around nine thousand taxpayers, registered in the General System, report credits in their declarations, however, they do not request refunds. In this way, the accumulated credit is around 700 billion Kwanzas.
Collection of the taxable person’s VAT credit that has been accrued for three months and the taxpayer requests the refund, AGT, given this scenario, analyzes the legitimacy of the credit if the invoices submitted by the taxpayer comply with the legal regime of invoices.
However, around 12,000 taxpayers are registered under the general VAT regime and around eight thousand taxpayers under the simplified regime.
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