Africa-Press – Angola. The Proposal that changes the Value Added Tax (VAT) Code on food products from 14 to 7 percent goes to the final global vote at the Ordinary Plenary Meeting of the National Assembly (AN) next Wednesday (15) .
The decision came this Thursday from the Conference of Parliamentary Leaders, guided by the president of the National Assembly, Carolina Cerqueira.
The Legislative initiative of the President of the Republic, as Holder of Executive Power, aims to adapt it to the reality of the country’s current economic and social context and the economic and financial challenges faced by families and companies.
The diploma aims, among other aspects, to reduce the VAT incidence rate on widely consumed food goods from 14 to 7 percent, with the exception of the province of Cabinda, which will now have a single VAT incidence rate, in the order of 1%, taking into account the Special Regime in force in that region.
The Proposed Law also aims to introduce a set of procedures to provide greater flexibility, efficiency and fairness to tax, within the process of assessment, declaration, payment and refund of VAT credits.
The discussion on the document’s specialty had been suspended due to lack of consensus, with the opposition defending a zero rate for all products in the basic basket.
Within the scope of this proposed Law, special treatment is given to the province of Cabinda because of geographic discontinuity, with a 1 percent VAT rate.
OGE quarterly financial execution balance reports
According to the first secretary of the Board of Parliament, Manuel Lopes Dembo, the 2nd Ordinary Plenary Meeting of the AN will also discuss and vote on four reports on the quarterly financial execution of the OGE for the years 2022 and 2023.
Parliament’s specialized committees assessed, discussed and voted on the Joint Opinion Reports, in general, of the aforementioned documents.
The Second Ordinary Plenary Meeting of the Assembly will also carry out the movement of deputies.
For More News And Analysis About Angola Follow Africa-Press
