The Economic Commission of the Angolan Council of Ministers on Thursday approved a law that sets out guidelines for drawing up the General State Budget (OGE) for 2019, according to a statement released at the end of the meeting.
The statement added that the law contains rules that will be used by managers of public resources to prepare the sector budgets that will be further consolidated in the General State Budget.
The members of the Economic Commission also approved a document containing the guidelines for the introduction of Value Added Tax (VAT) in Angola.
The document sets out the model and timetable for the introduction of the VAT, the establishment of the institution responsible for its strategic management and the supervision, inspection and control of fraud, based on the cross-referencing of existing information in taxation systems.
A memorandum on the implementation process of the recently approved 2018-2022 National Development Plan was also considered and will be implemented through annual national development plans.
The National Development Plan is operational in nature with concrete objectives, programmes and actions, annual and quarterly physical and financial targets, performance indicators for each project, as well as the units responsible for implementing, monitoring, supervision and evaluation of actions. (macauhub)