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Angola Update

11/05/2015

Under the recent approval of the Revised Annual State Budget for 2015, the Angolan Government created a new Special Contribution on current invisible operations made between national territory and abroad, or residents and non-residents in national territory.

Current invisible operations are deemed to be transactions, services and transfers related with transports, insurances, travels, capital earnings, commission and brokerage fees, rights relating to patents and trademarks, administrative and operating charges, salaries and other expenses related to personal services, other services or payments of earnings and private transfers.

The President is now authorized to establish the objective and subjective scope of application of the new Special Contribution, as well as the rate, the taxpayers, the exemptions and the liquidation and payment rules.

News about this issue are to be expected soon.

Source
Meet the Law - Angola Update
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Authors

Picture of Patrick Dewerbe
Patrick Dewerbe
Partner
Lisbon
Picture of Tiago Graca
Tiago Graça
Associate
Lisbon