Angola VAT implementation
- Jan 10, 2019 | Richard Asquith
Angola has confirmed plans to introduce VAT. Initially, from July 2019, only the largest tax payers will be obliged to charge the new consumption tax.
The plan to launch VAT was delayed from 1 January 2019 last December. It will eventually replace the existing 10% Sales Tax, which is charged on all sales – B2B as well as B2C.
The standard VAT rate will be set at 14%. Exemptions and nil rating will be provided for supplies including: basic foodstuffs; medicine; and domestic fuel.
The first 2019 wave of businesses to start charging VAT will only be around 400 companies. By 2021, this will be extended to businesses with an annual turnover above €220,000.