MAJOR DEVELOPMENTS
It is expected that the Angolan government will promulgate some changes
in the regulations dealing with taxation under the corporate income tax
of nonresident contractors and consultants before the end of 1997.
INCOME TAXES ON CORPORATIONS
1. Rates
Corporations doing business in Angola are subject to income tax on
taxable profits at the rate of 40%. An additional 10% tax applies to
profits exceeding KZR 38,500,000.
On profits derived exclusively from agriculture, forestry, or
cattle breeding, the tax rate is 20%.
The Ministry of Finances can authorize fiscal exemptions or
reductions to halve the above tax rates for a period of ten years for
corporations established in a region with little economic support, as
determined by the government, and for corporations establishing
operations to exploit local resources.
2. Local Income Taxes
None.
4. Branch Profits Taxes
Branches of foreign companies are liable for tax on profits obtained in
Angola in exactly the same way as Angolan companies.
5. Foreign Tax Reliefs
The Angolan government intends to enter into double taxation
agreements; however, at the time of publication, no such agreements
have been established.
7. Payment of Taxes
Corporation tax is payable as follows:
q Yearly assessments of tax liability for group A companies (see
item 33) are due in May and are the corporation responsibility;
q Yearly assessments of tax liability for group B companies are
due in April and are the corporation responsibility. These
assessments are calculated on the basis of 25% of the total sales. If
this amount cannot be established, tax is assessed on the basis of 35%
of the expenditures related to the corporation activities;
q Group C taxpayers pay tax under a minimum profit regulation
approved by the Minister of Finance. The taxable income of group C
taxpayers is based on the profits they would normally realize. This
group includes individuals who operate small businesses with no
organized accounting system;
q The tax authorities may amend assessments prepared by
corporations.
INCOME TAXES ON INDIVIDUALS
9. Rates
Employment income is subject to employment income tax (IRT, Imposto
Sobre os Rendimentos do Trabalho). Tax rates are as follows:
q Employees:
Taxable Income
Tax on Percentage
Over Not Over Lower Amount on Excess
KZR 2,500,000 KZR 10,000,000 KZR 0 4%
10,000,000 25,000,000 300,000 6
25,000,000 50,000,000 1,200,000 10
50,000,000 3,700,000 15
q Self-employed professionals: 15%;
q Business-owner wages: 40% of income in excess of KZR
100,000,000 per month.
10. Local Income Taxes
None.
13. Tax Period
The tax year is the calendar year.
INCOME TAXES ON NONRESIDENTS
15. Liability to Tax
Nonresidents, whether individuals or corporations, engaged in any trade
or business activity are subject to the same fiscal treatment as
residents.
Employees are subject to the payment of employment income tax (IRT)
in respect of activities carried out in Angola.
Corporations with headquarters or active management abroad and a
permanent establishment in Angola are subject to corporation tax for
profits imputed to:
q The permanent establishment;
q Sales in Angola of goods of the same or similar nature as those
sold by the permanent establishment;
q Other commercial activities carried out in Angola of the same
or similar nature as those carried out by the permanent establishment.
A permanent establishment?is a settled facility through which the
company performs all or part of its business activities, specifically,
a management site, branch, office, factory, workshop, or mine, oil or
gas well, stone quarry, or other site of natural resource extraction.
Also considered permanent es
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