Wed, 15 Aug 2018 11:32 - Updated Wed, 15 Aug 2018 11:32
VAT is based on best tax practices - Official
Menongue - The renewal of the Value Added Tax (VAT) is based on the best tax practices, said last Tuesday in Menongue, southern Cuando Cubango province acting Governor, Bento Francisco Xavier.
Send by email
To share this news by email, fill out the information below and click Send
To report errors in the texts of articles published, fill out the information below and click Send
Cuando Cubango: Bento Francisco Xavier - Acting Governor
Photo: Armândio Morais
The minister, who was speaking at the public consultation session of the project proposal - Law on the Code of Value Added Tax to economic agents, academics, among others, said that VAT is based on the best tax practices experienced by many countries.
He argued that it is necessary to adopt Value Added Tax in the Oil Industry since it is an intensive capital sector, guarantees and safeguards the stability and economic viability of investments at that stage.
The tax, which comes into force next year (2019), aims to consolidate the foundations for development, confidence-building, economic growth and social inclusion.
"The government intends to adjust the national tax system, with the adoption of fiscal legislation to the new economic and social reality of the country, to boost non-oil tax revenue, as well as to combat fraud and tax evasion, guaranteeing greater tax justice "He added.
- 15/08/2018 08:52:49
Luanda - Inflation, measured through the National Consumption Price Index (IPCN), recorded last July an increase of 1.2 per cent.
- 14/08/2018 12:46:58
Ondjiva - At least 2,325 Fiscal Identification Numbers (NIF) have been de-activated from the system of the General Tax Administration (AGT) in the southern Cunene Province, from January this year to July.
- 13/08/2018 19:12:26
Luanda - The implementation of the Value Added Tax (VAT) in Angola aims to increase state tax revenues, combat tax fraud and evasion, as well as provide greater tax justice, said today in Luanda the dean of the Faculty of Economics of the Agostinho Neto University (UAN), Redento Maia.