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Angola - Amendments to the industrial tax CODE

Law no. 26/2020, of 20th July, 2020, approved several amendments to the Industrial Tax Code, which have a huge impact not only on the Angolan resident companies, but also on all foreign entities providing services to Angolan clients.

Among the several amendments, we highlight the following:

Rates

  • Reduction of the standard rate from 30% to 25%.

  • Application of a 35% rate to insurance and banking entities, Telecom operators and Angolan oil companies.

  • Increase of the final withholding tax rate on services provided by non-resident entities from 6,5% to 15% (except in case of application of a double taxation treaty signed by Angola, such as with Portugal).

    • Taxation Regimes

    Replacement of the two existing taxation groups (Group A and B) by a General and a Simplified regime.

    Loss carry forward

    Extension of the loss carry forward period from 3 to 5 years.

    Merger and de-merger of companies

    The tax neutrality regime is extended to all Industrial Tax taxpayers (up to this moment the regime was only applicable to Major taxpayers)

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