The tax and customs debt of Angola’s taxpayers by 31 December, 2017 is estimated at 323 billion kwanzas (US$1.038 billion), according to data provided by the General Tax Administration (AGT).
Of this amount, 38% corresponds to interest and fines that are no longer collected by the AGT under the Exceptional Tax and Customs Debt Regime that will allow taxpayers to pay off the debt without interest and fines until December 2019.
Taxpayers must sign up for the regime between 2 January and 30 July of this year, by requesting or completing a form available at tax offices, according to the Angop news agency.
The director of the Tax Study Centre of the AGT, Hermenegildo Cose, said on Tuesday in Luanda that, once the deadline has expired, taxpayers who do not sign up for the scheme must comply with previous procedures, paying the debt, interest and fines.
As it is a voluntary scheme, the AGT expects that about 30% of taxpayers will join this initiative, which will enable them to raise about 60 billion kwanzas out of the total debt recorded by the AGT.
The Exceptional Regime of Tax and Customs Debt Regulation covers all the taxes and customs duties that make up the Angolan tax system, and the debts can be settled in a single payment or in installments.
In cases where the State is a debtor of the taxpayer, including non-tax debts, the debt is settled by a process of offsetting. (macauhub)