1 - TEXTOS - Business Tax Rates_Angola

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Business Tax Rates
Angola’s Corporate Income Tax Code of 1972 as amended by Law 18/92, contains the
provisions for business tax rates. Companies and self-employed individuals are subject to
business income tax. In addition, domestic dividends, interest and royalties are subject to
withholding of an investment income tax under Law 7/97 Withholding Tax.

According to the code, a resident company is taxed on its worldwide income. Non-residents that
derive income in Angola are subject to the same rules as residents. Corporate Income Tax must
be paid by the 31st of May of the year followiing the year for which tax is due. However, 75% of
the final tax amount (based on the previous years tax return) must be paid in interim payments
in January, February and March. Special tax regulations apply to companies in the petroleum
and mining sectors.

Resident Companies
Business Income Tax
                                      Standard Rate 35%
                                 Mining Enterprises 35%
                                                     50% for production sharing agreement
                                     Oil Enterprises partners, 66.75% for joint venture partners
                                                     taxed as business income
Capital Gains Dividends
                                   Domestic Source 10%
                                     Foreign Source Taxed as business income
Interest                                                15% for loans; 10% for corporate bonds
Royalties
                                   Domestic Source 10%
                                     Foreign Source Exempt
Fees                                                    Taxed as business income
Rent                                                    Taxed as business income

Capital Gains Tax
There is no separate Capital Gains Tax in Angola. The taxation of capital gains is as follows:

          For business income tax purposes, worldwide capital gains are treated as ordinary
           business income
          Capital gains derived by individuals who are not in business form the alienation of
           immovable or movable property are not subject to any tax.
          Capital gains from the sale of shares, quotas and other corporate righs do not attract
           investment income tax.

Transaction Taxes
The standard rates of comsumption tax is 10%. In some cases the consumption tax is reduced
to 2% (domestic supplies and some commidities) while increased tax rates of 20 – 30% apply to
commodities which are essentially luxury goods.



            Av. Duque de Loulé nº5, Piso 0 - A / 1050 – 085 Lisboa / Telf: 213571413 Fax: 213571414
                                        Henrique Doroteia - Advogados
                                   www.Advogado24h.com
                                  email: info@advogado24h.com
Stamp and Transfer Duty
Stamp duty applies to transactions, acts, deeds, documents, papers, receipts and other
transactions. In certain cases, the amount of duty is fixed; in others it is a percentage in the
range of 0.3% to 10%. The most common stamp duty rate is 1%.


Repatriation of Profits

Pursuant to the Currency Exchange Law, investors can repatriate distributed dividends and
profits after deducting legal amortizations and paying taxes due in accordance with their
proportional equity ownership in the company.

Payments from asset liquidation, private investment agreements, compensation, royalties and
revenue from indirect investments related to technology transfer may be repatriated after
payment of applicable taxes. Investments in diamonds, petroleum and financial institutions are
covered by separate legislation.

In: http://www.investinangola.com/engBusinessTax.asp




         Av. Duque de Loulé nº5, Piso 0 - A / 1050 – 085 Lisboa / Telf: 213571413 Fax: 213571414
                                     Henrique Doroteia - Advogados

				
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