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Angola Tax Withholding on Oil & Gas projects and services

asked Dec 18, 2014 in Others by wozniakmic (3,460 points)
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

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answered Dec 18, 2014 by Tadd Pham (5,620 points) | selected Jan 9, 2015 by odadmin
 
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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.

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