Under article 66 of the CIT Code, taxpayers included on the CIT general regime should proceed with the provisional assessment and payment of the CIT of the current year during the month of August. The same is calculated by applying the rate of 2% on the sales performed on the first 6 months of the year, being deductible to the final tax to be paid in the end of the year.

Regarding the same, we would like to highlight:

i. The same is applicable to the entities which activity is under the supervision of the Angolan Central Bank, the insurance supervising entity, the game activity supervising entity and the Stock Exchange Commission, as well as for the entities which activity is not liable to CIT withholding tax as provided in number 13 of article 67 of the CIT Code

ii. The difference related to excess or not due payment of the provisional payments on sales of previous years can be deducted in the final or provisional payment of the year, if recognized by the Angolan Tax Authorities (AGT)

iii. Taxpayers that had presented a loss (accounting, not taxable) in the previous year, are exempt of this provisional payment