Angola Public Consultation – Draft of amendments to the VAT Code

The General Tax Administration (AGT) has published for public consultation the Draft of amendments to the Value Added Tax Code.  Taxpayers can submit their comments until October 31st.

The proposal provides for the following amendments:

Simplified Regime: the creation of a simplified regime, replacing the transitional regime and the exemption regime (regime de não sujeição), in which will be included the taxpayers with a turnover or import operations equal or lower than Kz.: 350,000,000, being subject to the payment of 7% of VAT applicable on the sales volume received, exempting them from the payment of Stamp Duty on receipts.

VAT Exclusion Regime: introduction of exclusion rule in the simplified regime applicable to small taxpayers (zungueiras, shoeshine, square sellers, among others) with a turnover below than Kz.: 10,000,000, being these exonerated from any VAT obligations, without prejudice of being subject to other taxes.

Stamp Duty: Stamp Duty at the rate of 7% for VAT taxpayers, under the general and simplified regime, that exclusively carry out exempt operations.