4 December 2012

Angola: Executive Studies Structuring Alterations to Tax System

Luanda — The Angolan Executive is studying structuring alterations to the new tax system, on Tuesday said in Luanda the State secretary for Finance, Velentina Filipe, Angop learnt.

The official explained that the framework of the Angolan tax system depends on existing regulations on tax matters contained in the Angolan Constitution, such as promotion of sustainable and harmonious development.

"The framework of the income in the future tax system must take into account the introduction of a greater integrity of a fiscal charge adapted to the contributing capacity, separating the attribution of singular and collective incomes, through an only taxation system on incomes, as well as the need for a clear distinction of the solutions of taxation on business macro-activities and great firms.

According to her, the future tax system must take into account some known weaknesses such as the coexistence of various taxes on incomes, with different rules of determination on collection, liquidity, tax and payment, that put at risk the coherence, unity and simplicity of the system.

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