Africa-Press – Angola. The deputies of the National Assembly (AN) resume in October the discussion of the Proposal that changes the Value Added Tax (VAT) Code from 14 to 7 percent.
The specialist discussion on the subject is suspended, due to lack of consensus on some points of the Diploma and the process of consultations at the level of political leaders is underway in order to overcome the impasse.
The Conference of Presidents of the Parliamentary Groups decided this Tuesday to cancel the plenary meeting announced for Thursday (31), as the conditions for the final global vote on the aforementioned Diploma were not met.
The National Assembly (AN) is currently on a parliamentary break (from 15 August to 15 October). The effective functioning period of the Parliament is 10 months.
Outside the period of effective functioning, the AN can function extraordinarily by deliberation of the plenary, by convening the Permanent Commission or, due to its impossibility, and in emergency cases, by initiative of more than half of the deputies in office.
A parliamentary source explained, by the way, that as there was no consensus and the matter under consideration was not properly dealt with and there are some specific issues that need to be fixed, it was understood to resume the discussion of the proposed law in October.
The Conference of Parliamentary Group Presidents sets the date and agenda for a Plenary meeting, in accordance with the Parliament’s Rules of Procedure.
Proposed VAT amendment
The Legislative initiative of the President of the Republic, as holder of the Executive Power, aims to adapt it to the reality of the current context of the country in the economic and social aspect to the economic and financial challenges faced by families and companies.
The Diploma aims, among other aspects, to reduce the VAT incidence rate on all foodstuffs from 14 to 7 percent, with the exception of the province of Cabinda, which will now have a single VAT incidence rate, on the order of one percent, taking into account the Special Regime in force in that region.
It also aims to introduce a set of procedures to provide greater flexibility, efficiency and fairness to the tax, within the scope of the process of assessment, declaration, payment and reimbursement of VAT credits.
The UNITA parliamentary group understands that the reduction from 14 to 7 percent of imports and transactions of food goods “may not produce the expected results of mitigating the inflationary effects” and defends the extension of exemptions to the type of zero rate of VAT to a range of essential food products for families.
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