COVID-19 VAT support
Angola’s government has today announced plans to reduce the Value Added Tax rate on a range of essential goods from the standard rate of 14% to 7%. More details to follow, but the reduction had been flagged in the past to start in 2022. It would also cover a range of agricultural supplies and industrial machinery.
The measure is aimed at supporting consumers and the wider economy during the current economic downturn, largely as a result of the COVID-19 crisis. It is not yet clear if the rate change will be temporary.
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Angola SLIM VAT October 2019
Angola is the first state to introduce the so-called SLIM VAT regime on 1 October 2019. It has since been copied in Poland. The basic outlook is:
- Simple, as it should establish a broad scope for the tax, with a reduced number of exemptions and with simplified tax calculations
- Local, as it should be suitable for the Angola’s national reality and socio-economic context
- Modern, as it should have a digital component and it should follow the international best practices in dealing with tax fraud and evasion
