Angolan companies with tax debts up to 2017 can settle them in 2019

8 January 2019

Companies with tax, customs and social security debts owed until December 2017, will be able to settle them without paying interest, fines and procedural costs, announced the Angolan minister of State for Economic and Social Development.

Manuel Nunes Júnior, who was speaking in an interview published in Monday’s edition of Jornal de Angola, said this was a fiscal incentive measure to support national businesses, based on the exceptional regime outlined in the General State Budget for 2019 .

The minister gave assurances that whoever wishes to pay the full amount of debt in one go, unlike for monthly installments, will have a discount of 10% on the total amount, an important measure that will significantly relieve the tax burden of Angolan companies.

“The true wealth creators of the country must be entrepreneurs. One cannot speak of a market economy without entrepreneurs, without entrepreneurial people, without people capable of taking risks based on the returns they expect to get from the investments they make,” he noted.

This fiscal incentive measure, according to the minister, comes in the launch year of the Programme to Support National Production, Import Replacement and Export Promotion (Prodesi), according to the Angop news agency.

The programme will be developed by the private sector and involves the implementation of production strands for 53 products, which are already produced in Angola, but the government’s intention, according to the minister, is to increase their share of the domestic market, as well as the incorporation of local added value into the production process. (macauhub)