Recent Legislation


2024 State General Budget

By Law 15/23, of December 29th, 2023 it was approved the 2024 State General Budget (OGE 2024). Besides approving the OGE 2024, such Law introduced some tax changes, that we would like to highlight the following:

Reintroduction of the Special Contribution on Foreign Exchange Operations

It is (re)created the Special Contribution on Foreign Exchange Operations (and respective juridical regime), which is due on the transfers made under technical assistance contracts, consulting and management contracts, capital operations and unilateral transfers.

Are excluded from this regime the transfers to pay health and education expenses, if such transfers are made directly to the bank accounts of the respective institutions that provide such services, as well as the transfer of dividends and repayments of loans, and respective interest.

Are liable to such regime:
a) Individuals, at a 2.5% rate
b) Legal persons (eg companies), at a 10% rate

The contribution is calculated on the value transferred in local currency, at the foreign exchange rate of the date of the transfer, being the assessment and payment of the contribution, a responsibility of the financial institution intermediating the transfer abroad (additional cost of the transfer).

Are exempt of such contribution the State and its entities, expect for its Institutes and Public Companies, as well as the diamond companies and oil investing companies.

Change to the IRT (Employment Income Tax) Table

Are exempt of IRT the employment income received until AOA 100,000.00 (one hundred thousand Kwanzas), accordingly to the new Table that we send below.

The above changes will enter into force in January 1st, 2024.

New IRT Table