The Angolan government is analysing the possibility of making structural changes to its taxation system, the secretary of state for the Finance Ministry, Valentina Filipe said Tuesday in Luanda.
According to Filipe, who was speaking at a conference on taxation system reform, the configuration of the future Angolan taxation system will have to remain in line with existing requirements included in the Angolan Constitution.
“Income tax in the future taxation system must consider the need to introduce more levels into taxation adapted to taxpaying capacity and the need clearly to separate taxation solutions for micro and large companies,” she said.
According to Valentina Filipe, the significant level of informal transactions in the Angolan economy is a substantial challenge that particularly affects small businesses and interferes with applying taxation standards.
“Reducing informality has more far-reaching aims, specifically ensuring job security for the citizens involved in these small businesses, fairer distribution of the tax burden and an increase in productivity of the Angolan economy, thus ensuring similar conditions for all businesspeople,” she said. (macauhub)