Mining companies operating in Angola will be exempt from customs duty

27 November 2014

Mining companies in Angola will benefit from customs exemptions in the coming years, the director of the Office of Mining Negotiations and Concessions of the Ministry of Geology and Mines, Antonio Cassoma said Wednesday in Luanda.

Cassoma met with mining operators to identify the products that should be exempt and receive tax benefits so that, through a government decree, the list of goods without customs charges can be issued.

“The mining law, on approval, established a set of benefits for companies, they and they should propose a list of equipment that should be exempted from customs duties,” Cassoma said cited by state daily newspaper Jornal de Angola.

At the meeting, the Secretary of State for the Budget, Alcides Safeca said the mining code was a management tool that ensured the implementation of development sector stability policies, in order to promote transparency and swiftness of investment projects.

“It is important to develop strategies that provide best business practices and efficient management systems, that make contributions to the economy,” he said.

The Secretary of State for Mines, Miguel Paulino said in turn that the list “will allow the provision of an excellent service to mining operators, potential investors and other parties interested in operating in the mining sector.” (macauhub/AO)