According to a communiqué from the parliament, which VerAngola had access to, the document was approved, this Wednesday, by the specialty committees, and on Thursday it will be submitted for discussion and voting in the AN.
"Approved this Wednesday by the specialty committees, unanimously, with 30 votes, the document will be submitted tomorrow [Thursday], the 23rd, for discussion and voting by the National Assembly Plenary", reads the note.
The aforementioned document, adds the statement, "aims to make new projects more attractive and guarantee the financing of investments, as well as the increase in oil and gas production in the national territory, with the end of the period of grant".
Cited in the note, deputy Lourdes Caposso, as rapporteur of the 1st Specialized Work Commission, referred that the "approval of incentives and tax benefits for the Oil Concession in the Maritime Zone of Cabinda brings various economic, financial and social benefits to the oil sector and for the State", giving as an example the electrification of Cabinda.
The Legislative Authorization Bill, explains the communiqué, makes it possible to "authorize the Holder of Executive Power to legislate on the Tax Regime Applicable to the Oil Concession in the Maritime Zone of Cabinda - Block 0", with the aim of eliminating "the inaccuracies in the Decree Presidential Legislative No. 5/22, of July 23", in order to adapt the current tax regime and guarantee "economic conditions that promote the optimization of production and safeguard the profitability and sustainability of oil operations in the concession area".
"The amendment to the terms contained in Presidential Legislative Decree No. 5/22, of 23 July, aims to pursue the objectives underlying the extension of the Block 0 concession and the attribution of the respective tax incentives to increase revenue generation tax and quasi-fiscal tax resulting from oil activity", the statement reads.
In addition, it also intends to "grant retroactive effects to the tax regime attributed to the concession; enshrine transitional rules regarding the change in the regime applicable to fixed assets; consecrate deductible costs; establish the natural gas regime; change the formula for calculating the internal rate of profitability and indicate the concept of resources to be developed", completes the note.
