Angola Gazettes 2025 General State Budget

The Angolan Official Gazette Dec. 30, 2024, published Law No. 18/24, approving the 2025 general state budget. The law includes measures: 1) setting a 6.5 percent individual income tax (IRT) rate on business income for Group C taxpayers with FY 2024 billing volumes not exceeding 10 million Angolan kwanzas (US$10,870); 2) exempting income up to 100,000 kwanzas (US$108) from IRT; 3) establishing mandatory electronic tax filing for industrial taxpayers under the general or simplified tax regime; 4) allowing depreciation over five financial years for taxpayers in the agricultural and livestock sectors making qualified investments in infrastructure; 5) reducing the VAT ...