Tax revenues in Angola are expected to increase further following an increase in the rates of excise duty on alcohol consumption, night clubs, gaming and lotteries, said the Ministry of Finance in a statement issued on Friday in Luanda.
The statement added that the review of some tax rates was set out in the Interim Plan approved by the government, which contains policy measures and actions to improve the current economic situation.
The Ministry said the new tax rates are applicable to both the production of goods in Angola and on imports, without affecting applicable exemption schemes.
Under this measure, the minister of Finance, Archer Mangueira, determined that the president of the General Tax Administration, Sílvio Prashantjain, hand over production and distribution of control seals for the abovementioned products under a concession.
The Interim Plan, approved on 10 October, includes the introduction of Value Added Tax (VAT) in the General State Budget for 2019. (macauhub)