Africa-Press – Angola. The specialized committees of the National Assembly (AN) approved this Friday, in particular, the Proposed Law on Gaming Activities.
The Proposed Law reinforces the legal framework for the regulation and supervision of economic operators involved in this sector.
The legislative initiative is intended to introduce substantial changes to the current legal regime, namely the unbundling of the concession of sports betting, lotteries and the adequacy of the share capital and own funds of entities operating gaming activities.
The Proposed Law enshrines the licensing regime for Online Games, the constitution and registration of companies, the tax and sanctioning regime, as well as access to the game through competition as a rule.
The Diploma waives the obligation to have an exclusive object for the exploration of gaming activities at this stage.
Gaming activity in Angola is currently very concentrated on the approach to gambling practiced in casinos and/or gaming rooms.
With this reformulation, the aim is to establish a legal gaming system, more suitable for regulating and controlling the activity.
However, the Law does not fail to protect the rights and legitimate expectations of gaming entities and players.
The premises for regulating and supervising the activity are based on preserving the stability of the activity, reinforcing the concession as a criterion under the Law of Gaming activity.
The proposal under consideration, according to the justification report, does not seek to lighten the sector’s tax burden, but to make it fairer and more sustainable.
Angola has been experimenting with reforms in its tax system, most notably the reduction in the industrial tax rate in recent years, from 30% in 2014, to 25% in 2020.
Regarding the Special Consumption Tax between 2019 and 2021, the Executive proposed to the National Assembly a reduction in rates, with emphasis on the alcoholic beverage industry reducing the maximum rate from 25% to 15%.
Likewise, the National Assembly approved the reduction of VAT from 14% to 7% on essential consumer goods.
The measures taken by the Angolan Executive are in line with the recommendations of the Bretton Woods institutions.
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