#16 NEWSLETTER

Recent Legislation

 

Presidential Decree 86/18: Establishes the rules and procedures for the tenders to acquire the quality of Associate of the National Concessionaire and for the tenders to contract the acquisition of goods and services in the Oil Sector

 

Executive Decree 40/18: Approves the legal forms for the payment of monthly taxes

 

Executive Decree 49/18: Extends the deadline to pay the Car Duty of 2017 for April 30th, 2018

 

Presidential Legislative Decree 3/18: Approves the new Tariff Code

 

Law 5/18: Approves the new Competition Law, that provides the set of principles and rules regulating competition

 

Presidential Legislative Decree 5/18: Establishes the juridical regime about Additional Research Activities in Development Areas of the Oil Concessions

 

Presidential Legislative Decree 6/18: Defines the incentives and the procedures to adapt the tax and contractual provisions applicable to the Qualified Marginal Zones

 

Presidential Legislative Decree 7/18: Establishes the tax and juridical regime applicable to the prospection, research, evaluation, development, production and sales activities of natural gas in Angola

 

Dispatch 135/18: Extends to June, 30th the deadline to file the 2017 Corporate Income Tax return (Modelo 1) of Taxation Groups A and B of Corporate Income Tax
Tax Calendar April - May
Tax Deadline Description Return

CIT - Withholding Tax (II) 29/06/2018
31/07/2018
  Assessment and payment of the tax withheld on services paid in the previous month   (i)

Real Estate Income Tax
(IPU)
29/06/2018
31/07/2018
  Assessment and payment of the tax withheld on rents paid in the previous month   (i)

Corporate Income Tax – Group A and B (CIT) 30/06/2018   Filing of the 2017 Annual Tax Return for Group A and B taxpayers    

Stamp Tax (IS) 29/06/2018
31/07/2018
  Payment of the IS assessed in the last month, being the most relevant one the 1% IS due on invoices/receipts issued in the previous months related to invoices received   (i)

Investment Income Tax (IAC) 29/06/2018
31/07/2018
  If any IAC on income liable to the
same was assessed/withheld in the previous month, the tax should be paid this month
  (i)

Consumption Tax (IC) 29/06/2018
31/07/2018
  Payment of the IC assessed in
all the invoices received last month for services rendered and in goods produced and sold last month (IC is assessed on cost of goods produced)
  (i)

Employment income Tax
(IRT)
29/06/2018
31/07/2018
  Payment of the IRT withheld on the remuneration and fees paid to, respectively, employees and self-employees last month.   (i)

Social Security (SS) 08/06/2018
10/07/2018
  Payment of the SS assessed (8%) and withheld (3%) to the employees last month.   (ii)

(i) Payment Return (DLI)
(ii) Remuneration Schedule and Payment Letter
Nota: Values in foreign currency are converted to local currency using the average exchange rate of the last quarter

Other Relevant Information

Foreign Exchange Rates (01/06/2018)

Currency Buy Sell

ZAR 18,805 18,903

EUR 277,45 278,145

USD 237,971 238,485

Barrel Oil Price

Brent    

$77.59    0.09      0.12%

2018.05.31 end-of-day

Source: Ministry of Finance

Inflation

Month Monthly Accumulated Year-on-Year Change  

April 1,22 5,50 20,22

March 1,44 4,23 20,90

February 1,26 2,73 21,47

Source: BNA

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