Ver Angola

Economy

AGT is studying the creation of a Single Corporate Income Tax

The country is preparing the creation of a single corporate tax. José Leiria, chairman of the Board of Directors (PCA) of the General Tax Administration (AGT), informed that the company is studying the creation of the Single Tax on Corporate Income, with a view to simplifying the tax burden of organizations.

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Currently, companies have several tax charges – such as industrial tax, rent from real estate, among others. A scenario that could be uncomplicated with the emergence of a single tax action, said the official, who was speaking at the I Colloquium on Taxation of Corporate Income in Angola.

Cited by Angop, AGT's CEO acknowledged that Angola cannot ignore this fact, explaining that the general scenario is moving towards simplification and reduction of companies' tax burdens.

This design, according to the official, will strengthen control and avoid double taxation of organizations.

"We, as a country, know that companies are not alone. They communicate and interact with other international organizations, and issues of financial, accounting and tax organization are crucial for their economic exchanges, hence the importance of the tax unification of companies", he admitted, quoted by Angop.

Members of the AGT administration, representatives of the Ministry of Agriculture and Fisheries, the National Institute for the Support of Small and Medium Enterprises, the African Tax Administration Forum, the International Monetary Fund, among others, participated in the colloquium that addressed issues related to taxation.

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