China will help financially Angola to overcome the difficulties created by the oil price drop and the consequent fall in revenues from public funds, by signing a number of cooperation agreements between the two countries, some of which involved the Angolan Ministry of Finances, during Angola's President visit to the People's Republic of China.
The Special Contribution: Purposes On the 29th of June 2015 was published in the Angolan Official Gazette, Legislative Decree no. 2/15 which creates a special contribution of 10% on foreign exchange operations resulting from foreign technical assistance service or management agreements regulated by Presidential Decree no. 273/11, of 27 October, as amended by Presidential Decree no. 123/13, of 28 August.
It was recently approved and published Law No. 11/15 for the Simplification of the Commercial Companies Incorporation Process. The said Law has brought us numerous improvements concerning the incorporation of companies. But not only has the incorporation of commercial companies become simpler and less bureaucratic. All corporate activity is greatly simplified and cheapened.
The currency conversion agreement between Bank ok Namibia and the Nacional Bank of Angola will come into effect on 18 June, 2015 and intends to ensure the conversion of the two currencies in Angolan and Namibian territory.
The Angolan National Assembly has recently approved the new general labor law (LGT), Angola’s third since its independence.
The new labor rules are, apparently, and highlight the apparently, harsh on workers while, yet again apparently, employer friendly