Luanda – Angola’s National Assembly (AN) approved Monday, in general terms, the Proposal that changes the Code of Value Added Tax (VAT) on foodstuffs from 14 to 7 percent.
During the 8th Ordinary Plenary Meeting of the 1st Legislative Session of the V Legislature, the document was approved with 113 votes in favour (MPLA, PHA and Mixed Parliamentary Group PRS/FNLA) and 76 abstentions from UNITA.
The Legislative initiative of the President, as holder of the Executive Power, aims to adapt it to the current context of the country in the economic and social aspects, as well as to the economic and financial challenges faced by families and companies.
The Diploma aims, among others, to reduce the VAT incidence rate on all foodstuffs from 14 to 7%, with the exception of the province of Cabinda, which will now have a single VAT incidence rate of around 1%, taking into account the Special Regime in force in that region.
The Law Proposal also aims to introduce a set of procedures to provide greater flexibility, efficiency and fairness to the tax, as part of the process of assessment, declaration, payment and reimbursement of VAT credits. DC/AL/ADR/NIC
