Tax Benefits Code

• Published date: 11 May 2022
• Subject Matter: Tax, Income Tax, Tax Authorities
• Law Firm: PLMJ
• Author: Renata Valenti, Rúben Brigolas, Janu'rio Macamba and Jo'o Rodrigues Duarte

Law 8/22 of 14 April approved the Tax Benefits Code ("TBC").

In a single, autonomous piece of legislation that is part of the legal-tax framework, the TBC consolidates the regulation of tax benefits applicable in the Angolan legal-tax system. In doing so, it sets out their definition and classification by sector, and the rules and terms for their application, control and monitoring. The TBC will come into force on 14 May 2022.

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Law 8/22 of 14 April approved the Tax Benefits Code ("TBC"). In a single, autonomous piece of legislation that is part of the legal-tax framework, the TBC consolidates the regulation of tax benefits applicable in the Angolan legal-tax system. In doing so, it sets out their definition and classification by sector, and the rules and terms for their application, control and monitoring. The TBC will come into force on 14 May 2022.

GENERAL PROVISIONS

Concept, characteristics and classification of tax benefits

For the purposes of this TBC, tax benefits are considered to be measures of an exceptional nature that provide an advantage or simply tax relief when compared to the normal taxation arrangements. Tax benefits are granted on a temporary and exceptional basis. They can take the form of exemptions, rate reductions...