Law No. 8/22, of 14 April 2022, approving the Tax Benefits Code, has just been enacted. The Tax Benefits Code shall enter into force on 14 May 2022 (i.e., within 30 days of the gazetting date).

This Code consolidates and regulates in detail the tax benefits generally applicable in Angola, thus contributing for greater certainty and simplicity in the granting and implementation thereof. The newly enacted statute repeals several separate laws which previously granted tax benefits, although the tax benefits granted prior to the entry into force of the Code are grandfathered and will remain in force until the end of the period for which they were granted.

The Tax Benefits Code provides for several types of benefits in various distinct areas and with different purposes, notably: (1) social nature (tax benefits granted to persons with disabilities, and to former combatants and veterans); (2) job creation (uplift of the costs with the creation of new job positions, the offer of internships and the provision of professional training to workers); (3) environment (use of electric vehicles, and production and use of renewable energy); and (4) financial system and capital markets (incentives to savings, private investment, increase of the companies’ share capital, free trade areas, and collective investment undertakings). The tax benefits available for investments made under the Private Investment Law are now set forth in the Tax Benefits Code.

Unless expressly provided otherwise, the tax benefits granted have a maximum duration of 10 years (with the exception of benefits granted under the contractual regime foreseen in the Private Investment Law, which may be granted for 15 years). 

It should be noted that the Tax Benefits Code is not applicable to tax benefits granted under the special taxation regimes for petroleum and mining activities, which continue to be governed by the legal statutes creating them.

For more information on this Tax Alert please contact:
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