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Angola
Overview
Last reviewed - 19 July 2022Angola, officially the Republic of Angola, is a country in South-Central Africa bordered by Namibia to the south, Zambia to the east, the Democratic Republic of the Congo to the north, and the Atlantic Ocean to the west. Angola is made up of 18 provinces, with Luanda as its capital. Portuguese is the official language of Angola, and the official currency is the kwanza (AOA).
Angola is run by a multiparty regime, with its President as the chief of state. Its legal system is based on Portuguese civil law and customary law, modified to accommodate political pluralism and increased use of free markets. Angola's high economic growth rate in recent years has been driven by its oil sector. The country is the second-largest petroleum and diamond producer in sub-Saharan Africa. Oil production and its supporting activities contribute about 50% of the gross domestic product (GDP), which represents more than 90% of the country’s exports.
PwC Angola is organised around industries, including oil and gas, financial services, industrial manufacturing, energy, utilities, and mining, to share the latest research and points of view on industry trends, develop industry-specific expertise, and share different methodologies and approaches in each area.
PwC Angola offers a range of tax services to assist taxpayers with tax structuring, tax compliance, oil and gas taxation, mergers and acquisitions, indirect taxation, financial services taxation, individual taxation, tax litigation, etc.
Quick rates and dates
| Corporate income tax (CIT) rates | |
|---|---|
| Headline CIT rate (%) |
25 |
| Corporate income tax (CIT) due dates | |
|---|---|
| CIT return due date |
Last business day of April (companies under the simplified regime) and May (companies under general regime). |
| CIT final payment due date |
Last business day of April (companies under the simplified regime) and May (companies under general regime). |
| CIT estimated payment due dates |
August for taxpayers under the general tax regime |
| Personal income tax (PIT) rates | |
|---|---|
| Headline PIT rate (%) |
25 (see Angola's individual tax summary for rates for self-employed workers and individuals carrying out an industrial or commercial activity) |
| Personal income tax (PIT) due dates | |
|---|---|
| PIT return due date |
Individuals only deriving employment income are not required to file tax returns, as the employment income tax is withheld at source by their employer. Self-employed individuals should submit their annual tax return until the end of March, which shall discriminate all the income earned during the previous fiscal year. |
| PIT final payment due date |
Self-employed individuals should pay the final employment income tax when submitting the annual tax return. |
| PIT estimated payment due dates |
Monthly PAYE |
| Value-added tax (VAT) rates | |
|---|---|
| Standard VAT rate (%) |
14 |
| Withholding tax (WHT) rates | |
|---|---|
| WHT rates (%) (Dividends/Interest/Royalties) |
Dividends and royalties are taxed at 10%, and the tax is withheld at source by the paying entity in Angola. Interest on loans granted by third parties or shareholders is liable to investment income tax at 15% and 10%, respectively. |
| Capital gains tax (CGT) rates | |
|---|---|
| Headline corporate capital gains tax rate (%) |
Capital gains arising from the disposal of financial instruments: 10% |
| Headline individual capital gains tax rate (%) |
Generally, the Investment Income Tax for capital gains is 10%. |
| Net wealth/worth tax rates | |
|---|---|
| Headline net wealth/worth tax rate (%) |
NA |
| Inheritance and gift tax rates | |
|---|---|
| Headline inheritance tax rate (%) |
15% when the transmission occurs between spouses or in favour of descendants and ascendants; 30% when the transmission occurs between other persons. |
| Headline gift tax rate (%) |
15% when the transmission occurs between spouses or in favour of descendants and ascendants; 30% when the transmission occurs between other persons. |
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