Angola - 2018 State Budget

Angola Legal Update

13/3/2018

The Law No. 3/18 of 1 March, approving the Angolan State Budget for 2018 was recently published. We would like to highlight the following relevant items:

 

  1. The Special Contribution on Current Invisible Foreign Exchange Transactions, levied on payments related with service, management and technical assistance contracts, at a 10% rate, will remain in force for 2018.
  2. A special authorization was given to the President for the approval of certain adjustments to relevant tax legislation:

a)      Customs Code;

  • Introduction of the possibility to pay customs debts in several installments;

b)      Investment Income Tax Code;

  • Revision of the participation exemption regime;

c)      Consumption Tax Regulation;

  • Introduction of the assessment and payment regime currently applicable to the oil & gas sector (“reverse charge”) to the financial, telecommunications and mining sectors;
  • Widening of the taxable base to publicity contracts and services, and internal maritime and airways transportation;

d)      Stamp Duty Code;

  • Changing of the Stamp Duty assessment rules on the acquisitions or promissory acquisitions of real estate property;
  • Clarification of the tax liability regime;
  • Widening of the taxable base to the issuance of receipts by self-employees, service contracts of any nature, and employment contracts with non-resident foreign employees.

Authors

 Picture of Filipa Tavares Lima
Filipa Tavares de Lima
Partner
Luanda
Picture of Ivanilda Costa
Ivanilda Costa
Trainee
Luanda