Inventory is valued at the historic acquisition cost. Any other method of valuation needs to be approved by the tax authorities.
Capital gains on fixed assets are taxed under CIT with no tax adjustments.
Capital gains arising from the disposal of shares, bonds, securities, or other financial instruments, Treasury Bills and Bonds, as well as Central Bank Securities, are taxable under the IAC Code.
Dividend income is only taxed under the IAC.
Interest income is only taxed under the IAC.
Rental income on immovable property is only taxed under the IPU.
Royalty income is only taxed under the IAC.
An Angolan resident CIT payer is taxed on its worldwide income. No foreign tax credits are available to deduct against domestic tax.
No tax deferral provisions exist in Angola.