#6 NEWSLETTER

Recent Legislation

 

Presidential Decree 31/17: Regulates the legal regime for the temporary secondment of workers, as well as the activity of the entities seconding such workers and the contractual relationships between the workers and the entities using the same.

 

Law 7/17: Protection Law of IT networks and systems, establishing the legal regime of the measures for such protection

 

Executive Decree 67/17: Approves the new return to assess the custom duties due on importation and exportation (DU)

 

Ruling 2/17 (BNA): Provides for the rules applicable to the opening and transactions of bank accounts held in Angolan banks by non residents for foreign exchange purposes
Tax Calendar MARCH
Tax Deadline Description Return

CIT - Withholding Tax (II) 31/03/2017   Assessment and payment of the tax withheld on services paid in the previous month   (i)

Companies’ Law 31/03/2017   Approval by the shareholders of the annual accounts prepared by the companies’ directors    

Real Estate Income Tax
(IPU)
31/03/2017   Assessment and payment of the tax withheld on rents paid in the previous month   (i)

Stamp Tax (IS) 31/03/2017   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) 31/03/2017   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) 31/03/2017   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)
31/03/2017   Payment of the IRT withheld on the remuneration and fees paid to, respectively, employees and self-employees last month.   (i)

Employment income Tax
(IRT)
31/03/2017   Filing of the annual tax return, “Modelo 1”, for Group B taxpayers and payment of any tax due.   (i)

Social Security (SS) 10/03/2017   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

Currency Buy Sell

ZAR 12.718 12.826

EUR 184.481 186.288

USD 165,083 166,734

Barrel Oil Price

Brent    

$55,92     -0.09    -0.16%

2017.03.07 end-of-day

Source: Ministry of Finance

Inflation

Month Monthly Accumulated Year-on-Year Change  

January 2,29 2,29 40,39

December 2,17 41,95 41,95

November 2,13 38,93 41,15

Source: BNA

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