The simplification and tax relief measures, among others, were presented by José Lima Massano, Minister of State and Economic Coordination, and are included in a package that aims to boost economic growth.
Speaking at a press conference after the 5th meeting of the economic commission of the Council of Ministers, the official stressed that these measures, in particular, the reduction in Value Added Tax (VAT) aim to alleviate the cost of living.
In the case of importing industrial equipment to support national production, the payment of VAT may be made in 12 monthly installments, another of the measures announced by the official.
In this context, there are also changes in the Property Tax to "make housing credit more accessible", exempting from this tax the transfer of properties with a valuation of 40 million kwanzas, or with a reduction to 50 percent with a valuation of between 40 million and 100 million kwanzas.
Stamp Duty on real estate development will also be eliminated, as well as on the registration of company share capital.
Still on tax matters, accounting monetary updating of investments in fixed assets at fair value will be allowed without any tax implications, "a kind of zero year for companies to update their balance sheets", according to Massano.
The short and medium-term package of measures announced also includes measures to tackle the reduction in budget revenue, by optimizing public expenditure and boosting revenue, reversing budget deficits.
"The measures seek to meet the need to reduce the cost of living, particularly with the purchase of food", reads a statement from the Council of Ministers, which Lusa had access to.
