Africa-Press – Angola. The Council of Ministers considered, this Wednesday, three proposals for diplomas that authorize the President of the Republic, as holder of the Executive Power, to legislate on the deduction of the investment premium in the calculation of taxable income.
The information is expressed in the Final Communiqué of the 3rd Ordinary Session of the Council of Ministers, which took place under the guidance of the President of the Republic, João Lourenço, adding that it is a question of the Income Tax on Petroleum for Blocks 18/15, 46 and 47 of the Angolan offshore .
The communiqué informs that the three proposed diplomas now go to the National Assembly, for discussion and approval.
In the same session, the Presidential Legislative Decrees were also considered, which change the incidence of investment premiums for oil blocks 18/15, 46 and 47, with a view to boosting and intensifying the replenishment of reserves.
The measure also aims to mitigate the “sharp decline” in hydrocarbon production and ensure the continued development of the oil industry and increased efficiency in the management and optimization of the country’s natural resources.
republication of diplomas
In the same segment, the Council of Ministers made changes and approved the republication of the diplomas that grant the “National Concessionaire” mining rights for prospecting, research, evaluation, liquid and gaseous hydrocarbons in the Concession Areas of Blocks 18/15, and production from 46 and 47.
The diplomas are intended to allow future consortia to benefit from sufficient time for the efficient and thorough implementation of their action strategies.
This Wednesday, the Council of Ministers also amended the diploma that grants the National Concessionaire mining rights for prospecting, research, evaluation, development and production of hydrocarbons.
These are liquid and gaseous hydrocarbons in the “Concession Area of Block KON 12”, in the Onshore Kwanza Basin, with a view to setting production and investment premiums.
The measure also aims to set the production and investment premiums of the tax rate on oil production for the said concession, having approved the risky services contract, entered into between the National Concessionaire and the Consortium of the said Block.
The communiqué informs that the session approved a diploma that attributes to the New Consortium prospecting, research, evaluation, mining rights for the development and production of liquid and gaseous hydrocarbons.
The said diploma includes mining rights over condensates and liquids extracted from natural gas, as well as rights relating to the treatment, storage, transport and sale of natural gas.
At the meeting, the conclusion of the Services Contract With Risk in the Concession Area of the New Gas Consortium was authorized.
Investment in oil blocks KON 2, KON 11 and KON
In yesterday’s session, the Council of Ministers approved diplomas referring to the attribution of production and investment bonuses for Blocks KON 2, KON 11 and KON 16, as well as the setting of the Tax rate on Petroleum Production for the said concessions, and on the approval of Risky Service Contracts.
The communiqué advances that the referred contracts were signed between the National Concessionaire and the Consortia of the referred Blocks.
Also, the Council of Ministers approved the extinction of mining rights for the development and production of gaseous hydrocarbons, attributed to the National Concessionaire, in the Non-Associated Natural Gas Areas of Blocks 2/15-Garoupa Oeste, 15/14-Lira and 3/15-Moose and Gunga.
With the extinction, it is intended to boost the development of new projects for the exploitation and monetization of gas and the concentration, in a single concession, of the various maritime areas of Angola with potential for natural gas.
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