The measure to reduce the value of the tax, foreseen in the General State Budget (OGE) for this year, had already been approached in 2020, but it has only now become official with the publication, in Diário da República, of the law that approves the OGE for 2021.
For this reason, many entrepreneurs in the sector considered that the decision came late.
According to the Expansion, in August of last year, when the new tax came into effect, the companies in the sector sent a letter to the President warning that this increase would cause an increase in the cost of oil production, making the country less attractive for future investments. At that time, the Executive will have left the promise to analyze the situation.
Faced with complaints and warnings from the oil companies, the head of state gave the green light for the creation of a committee of the Executive, composed of officials from the ministries of Finance and Mineral Resources, Oil and Gas, the National Bank of Angola and the National Agency for Oil, Gas and Biofuels.
After negotiations with companies in the sector, the commission decided in September to open an exceptional regime for the area. The exception established a tax reduction for companies not based in the country and the non-obligation of expatriate employees in this area to open bank accounts and receive their salaries in national banks.
However, only the measure relating to the opening of bank accounts had an effect, with companies continuing to pay 15 percent of the Industrial Tax until the end of last year.
