Luanda - The book “Deductibility of Costs in the Taxation of Business Income” by accountant and tax expert Benjamim Dumba, which focuses specifically on the Industrial Tax matter, will be launched on Wednesday, in Luanda.
In the book, to be presented in the Auditorium of the University Extension Building of the Catholic University of Angola (UCAN), it is narrated that “taxation (the State's activity in collecting and monitoring taxes) of business income, in the Angolan legal system, falls, preferably, on real income”.
In this context, a press release to which ANGOP had access on Monday, points out, the Industrial Tax, “to be replaced by the Corporate Income Tax”, is the main tax in the normal taxation of the Angolan tax system.
The note highlights that “It is configured so as to focus, objectively, on the profits generated by collective and single-person companies, attributable to the exercise of any activity of a commercial or industrial nature”.
This profit, determined by accounting, may be subject to corrections (negative and positive) due to the requirements imposed by tax legislation.
This work, as highlighted in the document, seeks to bring together and describe the requirements, in order to contribute to the alignment of their understanding by those involved in the legal-tax relationship.
According to the press release, the book highlights the benefits linked to cost deductions, which the State grants to companies, aiming to encourage them to adopt certain behaviors, such as business self-financing, the granting of internships to unemployed youngsters, the hiring of people with physical disabilities and the professional training of their employees.
Benjamim Gabriel Vilonga Dumba has a master's degree in Tax Law, a postgraduate degree in Pedagogical Aggregation and a degree in Accounting and Taxation.
He currently serves as Head of the Tax Services Department of the 6th Tax Region of the General Tax Administration (AGT).
The author's first work, consisting of several opinion and scientific articles, was about children's financial education, with the title “My First Finance Book”, published back in 2021.
AC/CF/DOJ
