This approval enables the President of the Republic, João Lourenço, to create a set of complementary measures that will help to reduce taxes, as well as bring improvements to the business environment and transform that province into an attractive investment centre.
Ottoniel dos Santos, Secretary of State for Finance and Treasury, quoted by Rádio Nacional de Angola (RNA) explained that "the present initiative is intended to replace the current port customs regime and the transmission of goods currently in force for the province of Cabinda, making -the most comprehensive", and "in addition to the customs regime and VAT, the province may also have a special tax regime".
"Also include improvements in the internal taxation regime, that is, the capital investment tax (IAC), a reduction on the incidence of this tax, reduction of industrial tax and also property tax", he added.
In turn, UNITA deputy Raúl Tati questioned whether this measure will attract more investment to the province and if it is not "once again" an "electoral package to capture the benevolence of the Cabindans": "We are no longer once before the electoral package to capture the benevolence of the Cabindans? Is this the way to attract investments to Cabinda, when we know that the oil industry is the queen of investment in the province? Will this tax measure alleviate the large difficulties arising from the insularity of the province and its particularities?", he asked, quoted by RNA.
Responding to the questions raised, MPLA deputy Mário Pinto de Andrade said that the Government is committed to improving the lives of citizens and guaranteeing "national cohesion".
Cited by RNA, he said that for the materialization of the measure, "the Executive had to carry out consistent and viable studies, therefore it is not an electoral proposal".
"We are correcting what was wrong and differentiating the province with different characteristics from the other provinces because the most important thing is to solve the people's problems, thus guaranteeing national cohesion", he concluded.
