Angola to have a new legal tax framework in 2012

11 November 2011

Luanda, Angola, 11 Nov – Three new tax codes, specifically the General Tax Code, the Tax Process Code and the Fiscal execution Code are due to come into force in Angola on 1 January, 2012, according to official information announced Thursday in Luanda.

In a statement, the Tax Reform Programme (Pert) said that following a positive report from the Council of Ministers, the three diplomas will soon be sent to the National Assembly for approval before being signed off by the country’s President. The licenses will be in force on 1 January, 2012.

The new laws are part of the project underway to reform the Angolan tax system with a view to adapting it to the new economic and social reality of the country.

The 1969 General Tax Code, which was revised on a number of occasions, no longer fitted the new challenges faced by the Angolan State, in all of the of the country’s areas, according to the statement cited by Angolan news agency Angop.

The statement noted the need to establish modern tax rules that outline the duties of taxpayers as well as their rights and guarantees.

In its turn the tax process was thus far made up of a diploma from 1948.

The statement noted that this diploma was now completely obsolete and has no practical application, and that the Tax Process Code was an innovation in Angola’s legal planning system.

The Tax Execution Code, the Pert statement said, is essential because it provides the Angolan tax system with the ability to comply with tax standards. (macauhub)