Luanda, Angola, 20 Aug – The Permanent Commission of the Council of Ministers Wednesday in Luanda approved the general outline of the tax reform in Angola, as an instrument to develop a modern tax system.
The tax system designed by the Government is expected to respond to the aims of the country’s tax policy and he challenges of social and economic development, via policies to attract investment, promote employment and regional integration, according to a
Press release issued at the end of the meeting of the Government body, cited by Angolan news agency Angop.
The general outline of the tax reform proposes short term actions such as a review and updating of the General Tax Code (CGT), adopting a Tax Process Code, legislative rationalisation and consolidation of industrial tax, simplification and rationalisation of stamp duty and the revision of Tax on Income (IRT).
It also includes a review of the consigment of tax revenues which should be attributed to local authorities, implementing policies to extend the tax base in terms of customs and the adoption of model taxes to promote the re-launch of national production.
The general outlines approved by the Permanent Commission are due to be submitted to the Council of Ministers and, later, to the National Assembly for approval. (macauhub)