Africa-Press – Angola. The news on the revenues of the Value Added Tax (VAT), which stood at three billion kwanzas, since its implementation in the country, is part of the subjects that dominated the highlights of the economic area this week Saturday, ends.
These are revenues related to the payment of this tax, since the progressive introduction (in January 2019) in the Angolan taxation system, within the scope of a set of measures followed by the AGT.
According to the administrator of the General Tax Administration (AGT), Tiago Santos, who was speaking during the 1st International VAT Conference, the implementation of this tax, in addition to being a strong instrument for raising revenue, worked as an important element for attracting or retaining of national and foreign investment in the various sectors of the economy.
As for refunds, since the entry into force of VAT, the General Tax Administration (AGT) has already refunded 130 billion kwanzas to taxpayers (companies) who requested the same.
Another highlight that marked the week just ended was the presentation and public consultation for the finalization of the process of Revision and Extension of the Long Term Strategy (ELP) 2025 to 2050 (ELP – Angola 2050).
According to projections of the plan called “Angola 2050 – Long Term Strategy”, the Non-Oil Gross Domestic Product (NP-GDP) will grow 3.3 times, from 84 to 275 billion dollars (USD), until 2050, with a population of the country estimated at 70 million inhabitants.
This document also forecasts that the Non-Oil Per Capita GDP will increase by around 1.2 times, from the current 3.67 to 4,215 thousand dollars, counting on the support of non-oil exports, which should grow 13 times more, from five (5) for USD 64 billion.
During this period, the plan projects, GDP, currently estimated at USD 122 billion, could reach USD 286 billion, which will represent growth of 2.4 times more and the Public Debt will experience a reduction of six percentage points, leaving the 66 to 60 percent of GDP.
For the next 27 years, within the framework of Angola 2050, the life expectancy of Angolans will increase by six years, from 62 to 68 years of age, and the mortality rate, among those five years old, will decrease by 56 percentage points from 71 to 19%.
Among the issues highlighted last week, the highlight also fell on the oil tax revenue collected by the State, in the first quarter of this year, which was around 1.3 billion kwanzas, 800 billion less compared to the same period of 2022, which fit Kz 2.1 billion.
These values (Kz 1.3 billion) resulted from the sale of 96.84 million barrels of oil at an average price of USD 79.31, based on data available on the Ministry of Finance website, through the Special Taxation Directorate (DTE) .
The increase in domestic production of goods and services is an imperative of the Angolan Government, in order to achieve a strong economy and less vulnerable to external shocks resulting, essentially, from the volatility of oil prices in the international market, was also one of the main economic highlights.
This statement was made by the Minister of State for Economic Coordination, Manuel Nunes Júnior, who was speaking during the Economic Forum/2023 in Portugal and Angola, held in the Portuguese city of Porto.
The week was also marked by the guarantee given by the Angolan Government, which considers the role played by telecommunications and information and communication technologies to be fundamental in achieving the Sustainable Development Goals (SDGs), by the year 2030.
In a press release from the Ministry of Telecommunications, Information Technologies and Social Communication (MINTTICS), on the occasion of May 17, International Day of Telecommunications and the Information Society, it is emphasized that the Executive is aware of the support for the development process socio-economic, in the fight against poverty, in pursuit of the Millennium Goals.
It should also be noted that the coverage rate of the digital network (communication network designed to transmit data in digital form) of the rural population in Angola, in the period 2018-2022, increased from 34.0%, in 2017, to 77. 3%, in the year ended.
The increase in the rate is due to the commitment of the Telecommunications and Information Technologies sector, triggered within the framework of the National Development Plan (PDN 2018-2022), which has the Development of Telecommunications Infrastructures and Information Technologies as one of the primary objectives.
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