Angola - 2018 State Budget

Available languages: PT

The Law No. 3/18 of 1 March, approving the Angolan State Budget for 2018 was recently published. We would like to highlight the following relevant items:

  1. The Special Contribution on Current Invisible Foreign Exchange Transactions, levied on payments related with service, management and technical assistance contracts, at a 10% rate, will remain in force for 2018.
  2. A special authorization was given to the President for the approval of certain adjustments to relevant tax legislation:

a) Customs Code;

  • Introduction of the possibility to pay customs debts in several installments;

b) Investment Income Tax Code;

  • Revision of the participation exemption regime;

c) Consumption Tax Regulation;

  • Introduction of the assessment and payment regime currently applicable to the oil & gas sector (“reverse charge”) to the financial, telecommunications and mining sectors;
  • Widening of the taxable base to publicity contracts and services, and internal maritime and airways transportation;

d) Stamp Duty Code;

  • Changing of the Stamp Duty assessment rules on the acquisitions or promissory acquisitions of real estate property;
  • Clarification of the tax liability regime;
  • Widening of the taxable base to the issuance of receipts by self-employees, service contracts of any nature, and employment contracts with non-resident foreign employees.

By Tiago Machado Graça, in collaboration with FTL Advogados, CMS Rui Pena & Arnaut's correspondent office in Angola.