Understanding the corporate income tax and other relevant business taxes is crucial for businesses operating in Angola. Alongside corporate income tax, businesses should be aware of personal income tax, VAT, consumption tax, withholding taxes, property tax, stamp duty, and social security contributions. It is essential to consult with a tax professional or refer to the official Angolan tax authority website for the most accurate and updated information on tax regulations and requirements in Angola.
Corporate Income Tax:
In Angola, corporate income tax is levied on the worldwide income of resident companies and the Angolan-source income of non-resident companies. The corporate income tax rate is currently 30% for most businesses, with certain exceptions for specific sectors such as petroleum, mining, and insurance. However, it is important to note that tax rates and regulations can change, so it is advisable to consult with a tax professional or the Angolan tax authority for the most up-to-date information.
Types of Business Taxes in Angola:
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Personal Income Tax: Although not directly a business tax, it is important to mention that Angola imposes personal income tax on individuals residing in the country. The tax rates for personal income tax are progressive, ranging from 15% to 25%, depending on the income level.
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Value Added Tax (VAT): Angola has implemented a Value Added Tax system, which applies to the supply of goods and services in the country. The standard VAT rate is 14%. However, certain goods and services may be subject to reduced rates or exemptions. It is essential for businesses to understand the VAT regulations and compliance requirements.
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Consumption Tax: Angola imposes a consumption tax on specific goods and services, such as tobacco, alcoholic beverages, and luxury items. The tax rates vary depending on the category of goods or services.
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Withholding Taxes: Withholding taxes are applicable to certain types of income paid by Angolan companies to non-residents, such as dividends, interest, royalties, and technical services fees. The withholding tax rates can vary, ranging from 6% to 15%.
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Property Tax: Property tax is imposed on the ownership of real estate properties in Angola. The tax rate and specific regulations may vary depending on the location and value of the property. Local municipalities are responsible for property tax assessments.
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Stamp Duty: Angola imposes stamp duty on specific legal and commercial transactions, including contracts, deeds, and other official documents. The tax rate for stamp duty varies depending on the nature and value of the transaction.
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Social Security Contributions: Employers in Angola are required to contribute to the social security system on behalf of their employees. The contributions are calculated based on a percentage of the employee's gross salary and are intended to fund social security benefits, including pensions and healthcare.
Angolan Tax Authority Website:
For the most accurate and up-to-date information on business taxes in Angola, it is recommended to visit the official website of the Angolan tax authority. The website provides comprehensive information, forms, guidelines, and contact details for any tax-related inquiries.
Angolan Tax Authority Website: Official Angolan Tax Authority Website
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