Angola
Income Tax Rates for Resident and Non-Resident Companies: Years of Assessment Commencing On or After 1 January 2008 Note
10. Special tax regimes for petroleum and mining sectors:
Rate • Joint Venture in Petroleum Sector
Rate
Companies (other than those listed below)
35%
Agriculture and Forestry activities
20%
Petroleum - Joint ventures
Mining companies
20%
- Petroleum transaction tax
70%
• Mining 6
- Production sharing agreements
Urban property - Rent
- Royalty (on concession rights and production)
65.75%
- Royalty
50% 6, 7
- Surface tax (per 2 km )
US$1- 4
11. Although the law provides for a tax rate of 40%, the mining companies are applying 35% and up to now the tax authorities are accepting this, at least informally.
40% 30%
Notes: 1. The tax year for companies is the calendar year. 2. Business income is broadly defined and includes all earnings and gains from principal and secondary activities. 3. Consolidated returns are not allowed. Each company must file its own return. 4. Companies that have signed a contract(s) or subcontract(s) with a resident company to provide services in Angola are liable to withholding tax at a 3.5% rate in the case of construction services and 5.25% in respect of other services. A capital duty of 0.5% is levied on the contribution of new capital in a company. 5. There is no branch remittance tax. 6. Regarding joint ventures, each partner must file a separate tax return and is responsible for the payment of tax on its share of the joint venture profits. 7. Losses may be carried forward for three years but may not be carried back. 8. Foreign exchange gains or losses are taxed or deducted as they are realised. 9. A non-resident with a PE in Angola is subject to corporate income tax on the profits derived by that PE in Angola.
2% - 5% 2
Withholding Taxes (WHTs) WHTs: Residents and Non-Residents, Corporate or Individual Rate Dividend
1, 2
10%
Interest
1, 3
15%
Royalties
1, 4
10%
Notes: 1. These are final taxes (i.e. for residents, the tax withheld on payments received is considered as a payment on account of the tax due at year-end). 2. Capital income tax at a rate of 10% is withheld on dividends paid to both residents and non-residents. Exemptions apply in certain cases and the rate may be reduced to 2.5% or 0% under an incentive package. 3. Capital income tax at a rate of 15% is withheld on interest paid to both residents and non-residents and the rate may be reduced to 2.5% under an incentive package. 4. The rate may be reduced to 2.5% or 0% under an incentive package. 5. Angola has not concluded any double taxation agreements (DTAs) with other countries.
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