Angola | 2019.10.16
International Open Tender for Soyo Refinery Announced
The Ministry of Mineral Resources and Petroleum announced the launching of an international open tender for the construction of the Soyo Refinery, in the Province of Zaire. This public tender will be officially launched on 24 October 2019 and the refinery is expected to start operating in 2023.
Portugal | 2019.10.11
Guidelines on risk factors under Prospectus Regulation
The European Securities and Markets Authority (“ESMA”) has issued guidelines on risk factors under the Prospectus Regulation.
Timor-Leste | 2019.10.03
Timor-Leste announces Oil & Gas Licensing Round
The Timor-Leste Prime-Minister and the National Petroleum and Minerals Authority have today announced, at the first Timor-Leste Oil & Gas Summit, the opening of the country’s second oil & gas licensing round. There is plenty of highly prospective acreage on offer, with 18 blocks, 7 onshore and 11 offshore, including areas previously included in the Joint Petroleum Development Area.
Angola | 2019.10.03
New Licensing Round for Petroleum Concessions Launched
The National Agency for Petroleum, Gas and Biofuels (Agência Nacional do Petróleo, Gás e Biocombustíveis, “ANPG”), the National Concessionaire for the Angolan petroleum sector, launched yesterday, 2 October 2019, a new petroleum licensing round.
Angola | 2019.10.03
Law no.28/2019 Amended the Personal Income Tax Code (IRT)
Holiday and Christmas bonuses are now considered taxable income in accordance with this change to the IRT Code.
Angola | 2019.08.22
Amendments to Value Added Tax and Excise Duty Codes
In order to meet the required conditions for the full implementation of the Value Added Tax (“VAT”) and Excise Duty (“IEC”) Codes, the National Assembly approved Law Nos. 17/19 and 18/19, both of 13 August 2019.
Angola | 2019.08.21
Audit Court Law Amended
The Law on the Organization of and Procedure before the Audit Court was recently amended by means of Law No. 19/19, of 14 August 2019. This amendment seeks to establish faster, helpful and effective mechanisms of review and inspection of public finances and of sound financial management.
Angola | 2019.08.14
2019-2022 Privatizations Program approved
Following the recent enactment of the new Privatization Framework Law, the Government has approved the Privatizations Program for years 2019-2022.
Portugal | 2019.07.25
Non-Habitual Resident Tax Regime: Amendment to the List of High Value Added Activities
The scope of application of the tax incentive for relocation to Portugal of professionals working in high value added activities was amended by Ministerial Order No. 230/2019, of 23 July 2019.
Angola | 2019.07.25
New BNA rules applicable to financial institutions for depositing and withdrawing cash
Under Instruction No. 06/2019, of 5 July 2019, which will enter into force on 5 August 2019, the National Bank of Angola (BNA) established a new schedule for depositing cash and withdrawing it from the BNA’s Vaults, namely in the Province of Luanda, in the Bank’s Regional Branches, and in duly authorized Custody of Securities establishments, as well as the terms and conditions related to the schedule.