Lisbon, Portugal, 9 Oct – Mozambique is preparing to introduce a tax for the informal sector of its economy as well as a new investment code, said the man responsible for tax reforms in the country, Aboobacar Changa, in Lisbon.
“At the moment, a new tax for small taxpayers is being developed, in order to tax the informal sector, finding simplified ways of allowing more taxpayers to join up,” said Changa, on the sidelines of the Tax Meeting of the Community of Portuguese-speaking Countries (CPLP), held at the Lisbon University Faculty of Law.
According to Changa, this and other measures aimed to “increase revenues, widen the state’s tax base,” as well as increasing efficiency and simplifying procedures of the country’s taxation system.
In terms of investment, he said, investment legislation would soon be harmonised via a new Tax Benefit Code.
Despite, “investment in Mozambique having started a long time ago,” the new legislation “will bring more investment,” Changa said.
Another change, to be implemented by the end of the year, is the introduction of tax tribunals, “changing the old norms of joint Administration and Justice,” courts.
The CPLP Tax Meetings were organised by the Economic, Financial and Taxation Law Institute of the Faculty of Law of Lisbon University, the Institute for Legal Cooperation of the same university and by the Portuguese Tax Association. (macauhub)