Luanda - The Council of Ministers approved Thursday the Presidential Decree amended the legal regime of the Tax Identification Number (TIN), ensuring that the consequences of its suspension and cessation only concern the exercise of economic activities, as these are strictly related to the taxable event.
The measure was approved during the 3rd ordinary session of this body, chaired by the President of the Republic, João Lourenço, according to the final communiqué of the meeting.
Speaking to the press, the Finance minister, Vera Daves, explained that the aim is to adapt some of the rules to the economic, social and legal-constitutional reality of the country.
According to the Minister, after three years of the current law being in force and after listening to the concerns of taxpayers and society, the sector proposed an adjustment to the law.
Vera Daves added that the aim is to ensure that the consequences of the suspension and cancellation of the TIN, which affect the strictly personal sphere, are adjusted so that the effects provided for by the law only concern the exercise of economic activities, as these are strictly related to the taxable event.
The Minister explained that the aim is to separate the effects of the termination and suspension of the TIN from those that affect personal freedom and the exercise of liberal professions, such as the renewal of a visa, obtaining a passport, enrolling in professional associations and obtaining a driver's license.
It also aims to explicitly clarify the procedures related to the suspension of the NIF in the case of criminal offenses, emphasizing that the suspension can only be carried out by order of the competent authority under criminal law.
Implementation of the Budget
The Council of Ministers presented the Balance of Implementation of the State Budget for the Year 2024 (GSB 2024), a document that presents information on the implementation of the budget in the period in question, as reflected in the budget, financial and asset balances and the statement of changes in assets.
According to the document, the GSB 2024 presented an estimate of authorized revenues and expenditures of 24.72 billion kwanzas, of which 5.70 billion kwanzas was collected in the fourth quarter of 2024, which is 92% of the revenue forecast for the quarter and 23% of the annual revenue forecast. In this quarter, expenditures totaling 6.05 billion kwanzas were incurred, which is 98% of the expenditures for the period and 24% of the annual expenditures set in the State Budget.
Thus, taking into account the total volume of collected revenues in relation to total expenditures, there was a budget deficit of about 348.94 billion kvass.
On the other hand, there was a surplus in the current account of 262.32 billion kwanzas.
Oil exploration
The Council of Ministers also considered a decree amending the presidential decree granting mining rights in the CON 4 block concession area, with a view to establishing production and investment, as well as the tax rate on oil production, in accordance with the provisions of the Law on Taxation of Petroleum Activities.ART/DAN/AMP
