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Implementation of VAT in Angola

With a start date of July 1, 2019, Value Added Tax is finally implemented in Angola and with a fixed rate of 14% - in line with the values practiced at SADC level ( Southern Africa Development Community - Development Community of Southern Africa), where rates are applied ranging from 12% (Botswana) to 20% (Madagascar). 

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Exceptional regularization of tax customs and social security Debts

In December 2018 was published Law 18/18 that approves the Angolan State General Budget for 2019 that foresees a Special Regime for Tax, Customs and Social Security Debt Regularization.

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The Change

The Angolan State remains committed to change the direction of the country and the image it offers to the international community.

To this end, and in order to become independent of the imports that so penalize the normal development of the economy, the Executive has been attracting foreign investment to bet on the agricultural sector. It is in this area that the Government of the People's Republic of China is willing to invest in the development of the Angolan industrial sector, taking advantage of the country's agricultural potential, developing in one of the provinces an agricultural project in an area of two thousand hectares and through financing of US $ 15 million.

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Marginal oil discoveries with major returns

In the middle of this year, a Presidential Legislative Decree came into force, it has established the procedure for granting tax incentives in cases of marginal oil discoveries.

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Limitations on foreign exchange transactions for family support

On past 1st July 2018, Instruction no. 6/2018, from 19th June, entered into force establishing limits on foreign exchange transactions for family support, in order to provide greater security and predictability in respect of access to available foreign currency for the largest possible number of foreign exchange residents who need such currency for the subsistence of dependents outside the country.

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