A drop in the Corporate Tax rate from 35 percent to 30 percent is a comparative advantage for Angola, a country whose government has tried to encourage diversification of the economy, the managing director of PricewaterhouseCoopers said in Luanda Tuesday.
Pedro Calixto, who was speaking on the sidelines of a meeting on taxes in Angola promoted by the Association of Contractors of the Angolan Oil Industry (AECIPA), said the lower rate will make Angola more competitive, “given that decreases in tax load attracts investors. “
Calixto also said that when taxes are well defined and implemented this boosts other sectors of economic activity in a country like Angola, which wants to assert itself in Africa in particular and in the world in general.
Noting that legislation on Corporate Tax dated from the 1970s, Calixto said Corporate Tax reform in Angola is clarifying and enhancing Angolan legislation in line with international best practices.
The Association of Contractors of the Angolan Oil Industry was founded in 2002 and currently has 144 members. (macauhub/AO)