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, may be taxable under IIT or CIT. Specific analysis is required.
Dividend income is only taxed under IIT.
Interest income is only taxed under IIT.
Rental income on immovable property is only taxed under IPU.
Royalty income is only taxed under the IIT.
Foreign exchange gains/losses
Foreign exchange gains/losses arising from fixed assets and liabilities are accepted up to the limit of 7% each year.
An Angolan resident CIT payer is taxed on its worldwide income. No tax deferral provisions exist in Angola.