VAT's entry into force in Angola postponed
The Value Added Tax's ("VAT") entry into force scheduled for 1 July was pushed back to October, as a result of the discussions held between the Government and the GTE (Business Technical Group), which advocated implementing the VAT only in January 2020.
The postponement requires a new General Tax Administration ("AGT") and GTE timetable to become final.
The discussions between the Government and the social partners led to further recommendations, namely:
- Reduce the 7% VAT rate for taxpayers subject to the transitional regime
- Assess if VAT should be implemented in the context of education and teaching, particularly in the private sector
- Deduct at least 2% of the value of the stocks in the net amount of the Industrial Tax.