Ver Angola

Economy

State collected about 4.2 billion kwanzas in tax revenues in the first six months of the year

In the first six months of the year, the state pocketed about 4.2 billion kwanzas in tax revenue. More than half of the tax collection relates to the oil sector: with this sector alone the state managed to collect about 2.7 billion kwanzas.

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An analysis made by Novo Jornal of the Ministry of Finance's reports on the execution of the General State Budget (OGE) for the first two quarters of 2021, indicates that the ministry's expectations regarding tax collection were exceeded.

Between January and June this year, the ministry forecasted tax revenues of 3.9 billion kwanzas. However, expectations were exceeded, with the State collecting about eight percent more than the expected amount (4.2 billion kwanzas).

The figures indicate that more than half of the tax revenues (65 percent) come from the oil sector. The payment of taxes within this sector allowed the State to amass more than 2.7 billion kwanzas.

In turn, the non-oil sector contributed with about 1.4 billion kwanzas (34 percent) to the tax collection.

According to Novo Jornal the nearly four billion kwanzas represent more than half (52 percent) of the 8.1 billion kwanzas in current revenues provided for in the OGE.

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