Angola Tax Withholding on Oil & Gas projects and services

Asked by anashi 6 years, 9 months ago | 1 Answers

Hello, The current Tax Rate is a 5.25% withholding tax to be deducted from any invoices that an Operating Company pay to a Contractor. I heard of there is a new decree that the rate will be going soon. Can someone confirm please? Thanks.


1 Answer

0
taddpham 6 years, 9 months ago

Yes, the Government of Angola just enacted a new series of law with a strong impact on the fiscal regime, effective 1 January 2015. The new decree effects:

  • WHT rate raised from 5.25% to 6.5%
  • Tax on company profit lowered from 35% to 30%

You should also be aware that your Angolan entity will be paid in local currency (Kwanza) and not in any other currencies.