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Angola Income Tax Rate for 2017, 2016, 2015, 2014, 2013

Angola Personal Income Tax Rate

Chargeable Income (AOA)

Tax Rate

0 to 25,000

0%

25,001 to 30,000

5%

30,001 to 35,000

6%

35,001 to 40,000

7%

40,001 to 45,000

8%

45,001 to 50,000

9%

50,001 to 70,000

10%

70,001 to 90,000

11%

90,001 to 110,000

12%

110,001 to 140,000

13%

140,001 to 170,000

14%

170,001 to 200,000

15%

200,000 to 230,000

16%

230,001 above

17%

 

 

 

Angola Tax Basis

Individuals are taxed on Angola source income.

Residence

Residence is not defined in Angolan tax law, as individuals are taxed, irrespective of their residence, on Angola source income, wherever paid.

Angola Filing status

Spouses must file separate returns; joint filing is not permitted.

Taxable income

Individuals are subject to separate tax on income from business, employment, investments and property. Employment income is broadly defined and includes benefits-in-kind.

Capital gains

Capital gains obtained by an individual are only taxable when realised as part of a business activity.

Deductions and allowances

Vacation and severance pay, accident and illness benefits and the ?13th month? bonus are excluded from taxable employment income. Social security deductions are deductible.

Tax Rates

Employment income is taxed at progressive rates up to a maximum rate of 17%. The withholding tax on investment income is a final tax for individuals. Taxable capital gains are included in business income and taxed at the standard tax rate of 20% for unincorporated businesses. Professional fees are subject to withholding tax at an effective rate of 10.5%.

Other taxes on individuals:

Capital duty

A capital duty of 0.5% is levied on the contribution of new capital in a company.

Stamp duty

A 1% stamp duty is levied on all business receipts. Documents and agreements are also subject to stamp duty at nominal or ad valorem rates.

Capital acquisitions tax ? Nil

Real property tax

Real estate tax is charged at a rate of 30% on the taxable income arising from urban real estate. The law establishes the rules to calculate the taxable income for purposes of this tax. The tax is not applied to owner-occupied buildings used for industrial purposes.

Inheritance/estate tax ? A gift and inheritance tax applies to gratuitous transfers of property located in Angola by a resident. The rate is 10% for transfers between spouses or offspring or parents for the first AKZ 3 million, and 15% on the excess.

Net wealth/net worth tax

No Social security ? The employee pays 3% of salary. The employer pays 8%.

Angola Corporate Tax Rates

? The standard rate of Angola corporate tax is 35% for resident corporations and Angolan PEs of nonresident companies.

? A reduced corporate tax rate of 20% applies for agriculture and forestry.

? Income from oil is taxed at 50% or 65.75%.

? Tax rate for mining activities is 40%.

Residence

A business is resident if its domicile, head office or effective management or control is in Angola.

Basis

A resident company is taxed on its worldwide income; a nonresident is taxed only on Angola-source income.

Taxable income

Business income is broadly defined and includes all earnings and gains from principal and secondary activities.

Taxation of dividends

For residents, dividends are included in taxable income and are liable to taxation at the standard corporate income tax rate, subject to application of the participation exemption. Withholding tax imposed on dividends may be credited against the final tax liability.

Capital gains

Capital gains are taxed as business income. An inflationary adjustment is deductible from gains arising from the disposal of assets on which capital allowances are not available. Rollover relief is available.

Losses

Tax losses may be carried forward for 3 years. The carryback of losses is not permitted.

Tax Rate

The standard rate of corporate income tax for residents (including Angolan PEs of nonresident companies) is 35%. A reduced rate of 20% applies for agriculture and forestry activities. Rent from urban property is taxed at 30%. A 40% rate is provided for mining activities. Income from oil is taxed at 50% or 65.75% for foreign production sharing agreement and joint venture partners.

Foreign tax credit

Angola applies the ordinary foreign tax credit as a unilateral method for the avoidance of double taxation for resident companies and Angolan PEs of nonresident companies.

Participation exemption

Dividends received by an Angola company from another Angola company are deducted from the taxable profit of the former, provided the recipient has held at least 25% of the payer company for at least 2 years (or from the incorporation date for companies operating less than 2 years).

Holding company regime

No Incentives ? Significant incentives are available (for up to 15 years) for foreign and local investors in priority geographic areas and industries. These can include reduced or nil rates of corporate tax, withholding tax, customs duties and the transfer tax on property.

Withholding tax

Dividends ? Capital income tax at a rate of 10% is withheld on dividends paid to both residents and nonresidents. Exemptions apply in certain cases and the rate may be reduced to 2.5% or 0% under an incentive package.

Interest

Capital income tax at a rate of 15% is withheld on interest paid to both residents and nonresidents. The rate may be reduced to 2.5% under an incentive package.

Royalties

Capital income tax at a rate of 10% is withheld on royalties paid to both residents and nonresidents. The rate may be reduced to 2.5% or 0% under an incentive package.

Other

Tax is withheld on payments for most types of services provided to Angola residents. The withholding tax rate is 3.5% for services related to immovable property and 5.25% for other services.

For residents, the tax withheld on payments received is considered as a payment on account of the tax due at year end.

Other taxes on corporations

Capital duty

A capital duty of 0.5% is levied on the contribution of new capital in a company.

Real property tax

Real estate tax is charged at a rate of 30% on the taxable income arising from urban real estate. The law establishes the rules to calculate the taxable income for purposes of this tax. The tax is not applied to owner-occupied buildings used for industrial purposes.

Social security

The employee pays 3% of salary. The employer pays 8%.

Stamp duty

Stamp duty applies to many acts, contracts, documents, etc., at nominal or ad valorem rates. A 1% stamp duty is levied on the monthly turnover of companies.

Property Transfer tax

Property transfer tax is applicable to transfers of real estate (buildings and land) at a rate of 10%. The tax is due by the acquirer.

Angola Income Tax Rates 2014 and Deductions

Angola Income Tax Rate for Individual Tax Payers (Proposed)

In Angola lowest Individual Tax Rate is 5% and Highest Rate is 17%

Chargeable Income (AOA)

Tax Rate

0 to 25,000

0%

25,001 to 30,000

5%

30,001 to 35,000

6%

35,001 to 40,000

7%

40,001 to 45,000

8%

45,001 to 50,000

9%

50,001 to 70,000

10%

70,001 to 90,000

11%

90,001 to 110,000

12%

110,001 to 140,000

13%

140,001 to 170,000

14%

170,001 to 200,000

15%

200,000 to 230,000

16%

230,001 above

17%

 

 

Individual business owners receiving salary income are taxed at a flat rate of 20%.
Income from self-employment is taxed at a rate of 15% (levied on 70% of gross income).

Corporate Tax Rates in Angola

Corporate Tax Rate in Angola is 30% for 2004 and 25% for 2005

Capital Gains Tax in Angola

Capital gains derived from the disposal of business assets of self-employed individuals are included in operational profits and taxed at the regular Industrial Tax (corporate income tax) rate of 35%. Capital gains from the disposal of securities, other than those subject to Personal Income Tax or Industrial Tax, are taxed at a rate of 10% under the Investment Income Tax.

Capital losses may not be carried forward or back. However, under the Industrial Tax, tax losses may be carried forward for three years.

Other Taxes in Angola

Inheritance and gift tax

Inheritance and gift tax is payable by heirs and donees. This tax is levied on gratuitous transfers of movable and immovable assets and rights located or transferred in Angola. Tax rates range from 10% to 30%, depending on the value of the estate or the gift and on the relationship of the heir or donee to the deceased person or donor.

Property tax

Property tax is levied at a rate of 25% or 0.5% on the official assessment value of real property, which is determined, respectively, based on 60% of the charged rent or on the patrimonial value of the property.

Property transfer tax

Property transfer tax is levied at rate of 2% with respect to transfers of immovable property, including long-term leases (20 years or more).

Social Security

Salaries and additional remuneration specified under law are subject to social security contributions. No ceiling applies to the amount of remuneration subject to social security contributions. The rates of the contributions are 8% for employers and 3% for employees.

Employees working transitorily in Angola are not required to make social security contributions if they can prove that they are covered by the social security system in another country.

Self-employed persons are subject to social security contributions based on a predefined monthly notional salary. The rate of the contributions is 8%, but it may be increased to 11% if additional benefits are covered.

Angola Dates of filing Tax Returns / Reporting and Payment

The fiscal year in Angola is the calendar year.

Self-employed individuals must file returns (Form M/1) in January following the tax year-end and are notified of their final tax liability. Income taxes on employees are withheld by the employer under a Pay-As-You-Earn (PAYE) system, and employees are not required to file returns.

Tax on income from capital is generally withheld by the payer. Otherwise, the recipient is responsible for paying the tax.

Landlords must also file Urban Property Tax Form M/1 in January. Payments (whenever the rents are not subject to withholding tax) must be made in two installments, which are payable in January and July. Alternatively, a request may be presented to the tax administration to make the payments in four installments, which are payable in January, April, July and October.

 

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