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Angola introduces 14% VAT Jan 2019

  • VAT
  • 21 June 2018 | Richard Asquith

Angola introduces 14% VAT Jan 2019

Angola is to replace its existing 10% Consumption Tax regime with a 14% Value Added Tax system from 1 January 2019. Until the start of 2021, this will be mandatory for large taxpayers (turnover exceeding AOA 50 million) only and voluntary for small taxpayers. It will be compulsory for all from January 2021.

It is anticipated that more goods and services will be held liable to VAT than Consumption Tax. However, no formal VAT code or implementation guidance has yet been published.

The country is seeking to broaden its revenue sources, and become less dependant on volatile oil duty revenues. The country's debt levels ballooned following the 2014 oil price collapse.  Like the Arab Gulf States, this has led it to introduce VAT as a more reliable state income source.

Angola is the last country in the Southern African Development Community to introduce VAT.

 

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VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.