Government proposes reduction of several taxes for the province of Cabinda

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Government proposes reduction of several taxes for the province of Cabinda
Government proposes reduction of several taxes for the province of Cabinda

Africa-Press – Angola. The Executive proposed, this Thursday, the reduction of several taxes for the province of Cabinda, in order to reduce the cost of living of the population, improve the business environment, increase exports and make the region an attractive pole.

These proposals were considered during the 6th Ordinary Session of the Council of Ministers, guided by the Head of State, João Lourenço.

At the end of the meeting, the Minister of Economy and Planning, Mário João, said that five areas were identified for improvement, with emphasis on the reduction of the industrial tax rate for the agricultural sector from 10 to 3%, for those who “since that activity takes place within the territory of Cabinda”.

Mário João added that it was also proposed to reduce the industrial tax for factories installed in Cabinda from 25 to 10%, equating them with the rate of the agricultural sector in the rest of the country, reduction of the tax on the distribution of profits and dividends of companies from 10 to 5%, among other tax incentives.

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