Africa-Press – Angola. National and foreign economic operators who have structuring projects in 2025 will benefit from tax relief on Value Added Tax (VAT) and Property Tax (IP), if the focus is aligned with this year’s General State Budget Law (OGE).
According to the Head of the Legal Department of the General Tax Administration (AGT), Nuno Chaves, the measure, which is part of the tax reform underway in Angola, aims to bring closer and attract investments, with the reduction of some rates from 25% to 10%.
Speaking at the first meeting with large taxpayers held Tuesday in Luanda, the official stressed that the purpose of the VAT change is to promote the industrial sector, with the purchase of products, including flexible measures for the purchase of raw materials or equipment, during the 12 months of each year.
He also said that factories will benefit from a reduction in VAT from 14 to 5%.
Another advantage of the VAT, he pointed out, is that the register will be changed on a monthly basis, as opposed to one year previously.
Nuno Chaves recalled that VAT has three regimes: Exclusive, up to 25 million kwanza, Simplified (25 million to 350 million) and General (over 350 million).
He also added that the Stamp Duty, which is applied to capital increases with short maturities of up to five days, makes it possible to exempt operations that take place on the interbank market.
Célia Loureiro, a businesswoman, said that the OGE program is assertive because it establishes proximity between the economic operator and the AGT, adding that the facilitation, simplification and relief, with later payments, are significant advantages that the Diploma brings to the business market.
The first meeting with large taxpayers is an initiative of the AGT aimed at bringing taxpayers closer on a continuous basis. The event dealt with customs practices in general.
For More News And Analysis About Angola Follow Africa-Press
