Angola: 80 Percent of State Tax Revenues Come From Oil Sector - Official

Luanda - At least 80 percent of the State tax revenue comes from the oil sector, the reason why there is need diversification of the sources of income to diversify the economy of the country. This was said on Thursday in Catete, Luanda, by the National Fiscal Department official, Sebastião Garcia Joaquim.

According to the official, who was speaking at the 2nd Consultative Council of the Private Investment Agency (ANIP), delivered the topic "Mechanism of prevention of tax fraud". He stressed the importance of diversifying the economy and more and more seek for non-oil sources of revenues to significantly contribute to State income.

On the other hand, the technician defended reforms to promote the economic development of the country, through partnership to ensure tax and social justice and distribution of the wealth in the country. To him, the fight against fraud or fiscal fraud is an important tool for the tax activities.

According to the presenter, the delay in tax payment stated by the law, or failure to pay the amount due , omission of information the activities of a company are main constraints facing the good functioning of the Government.

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