The official said they are working "to ensure that more and more" have an "investor-friendly" tax system.
"We are working so that we increasingly have a tax system that is investor-friendly, that has a easier tax collection mechanism and that can also bring relief, from the point of view of tax burden", he indicated, when speaking at the third edition of the Conference on Taxation under the theme "Tax Reform, a decade later: Retrospective and Challenge".
Cited by Angop, the official took the opportunity to inform that it is intended to reduce the tax burden depending on the expansion of the base, reduction of penalties depending on more effective collection procedures, insertion of artificial intelligence in processes, as well as adjustment of customs laws in accordance with the best international practices, aiming at increasing global tax revenue.
In addition, he also referred that the acts carried out with a view to expanding the tax base of taxes aim to review the extent of the subjective and objective incidence, eliminate exemptions, include facts that have not been subdued so far, such as balancing the tax burden, simplifying the system and extend deadlines, writes Angop.
In terms of the industrial tax, he noted that Angola left a rate of 35 percent to 25 percent. "We verified that we continue to carry out analyzes in the sense of having a tax that will tax, in a aggregated way, all the income of the companies", he added, quoted by Angop.
He also mentioned Value Added Tax (VAT): VAT, "implemented in 2019, had a single rate of 14 percent. Today we have a rate of five percent and seven percent for products and equipment in the agricultural sector and the prospect is to continue working on taxes, with the aim of creating a system that best harmonizes with our reality".
Still on VAT, he made it known that this is the tax that has the greatest weight for the State's pockets, as it has brought "very interesting advantages, looking at revenue". "We have VAT weighing close to 30 percent of total non-oil revenue," he added.
