#6 NEWSLETTER
Recent Legislation
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| 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. | |
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| Law 7/17: Protection Law of IT networks and systems, establishing the legal regime of the measures for such protection | |
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| Executive Decree 67/17: Approves the new return to assess the custom duties due on importation and exportation (DU) | |
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| 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 | |
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Tax Calendar MARCH
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Tax | |
Deadline | |
Description | |
Return | |
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| CIT - Withholding Tax (II) | |
31/03/2017 | Assessment and payment of the tax withheld on services paid in the previous month | (i) | |
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| Companies’ Law | |
31/03/2017 | Approval by the shareholders of the annual accounts prepared by the companies’ directors | |
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| Real Estate Income Tax (IPU) |
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31/03/2017 | Assessment and payment of the tax withheld on rents paid in the previous month | (i) | |
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| 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) | |
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| 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) | |
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| 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) | |
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| Employment income Tax (IRT) |
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31/03/2017 | Payment of the IRT withheld on the remuneration and fees paid to, respectively, employees and self-employees last month. | (i) | |
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| Employment income Tax (IRT) |
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31/03/2017 | Filing of the annual tax return, “Modelo 1”, for Group B taxpayers and payment of any tax due. | (i) | |
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| Social Security (SS) | |
10/03/2017 | Payment of the SS assessed (8%) and withheld (3%) to the employees last month. | (ii) | |
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| (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
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| Foreign Exchange Rates |
| Currency | |
Buy | |
Sell | |
| ZAR | |
12.718 | |
12.826 | |
| EUR | |
184.481 | |
186.288 | |
| USD | |
165,083 | |
166,734 | |
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| Barrel Oil Price |
| Brent | |
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$55,92  -0.09 -0.16% |
| 2017.03.07 end-of-day |
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| Source: Ministry of Finance |
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| 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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