Angolan Code of Fiscal Benefits
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The long awaited Code of Fiscal Benefits (“CFB”) – which condensates a number of tax benefits until now scattered across Angolan Legislation – was recently approved by Law no. 8/22 of 14 April and has entered into force.
The publication of the CFB impacts several areas and sectors of the Angolan economy, but, more importantly, has a direct impact on the Private Investment Regime, which was awaiting the publication of this law so to complete the framework applicable to Investment Projects. Now, new investors finally have a clear picture of the advantages of investing in Angola.
Apart from the tax benefits highlighted below, it is relevant to note that the CFB :
- Revokes the exemption from Capital Investment Tax (“IAC“) that was applicable to profits and dividends paid between Angolan resident entities, when a 25% qualifying holding was held for more than one year ;
- Partially exempts from IAC dividends and profits derived from instruments traded on a regulated market (Stock Exchange and Organised OTC Market).