(3 Minutes Read)
In a significant move toward fiscal modernisation, Angola has amended more than 20 articles of its Tax Benefits Code (Código dos Benefícios Fiscais – CBF). This sweeping revision forms part of a broader strategy to reform the nation’s tax system, aligning it with both recent domestic reforms and international standards of transparency and efficiency.
The updates to the CBF are designed to facilitate the upcoming implementation of a unified income tax system, which will consolidate various sources of income, including wages, business profits, and other earnings, into a single, streamlined tax framework. This consolidation is intended to simplify tax compliance for individuals and businesses alike, reduce administrative burdens, and close existing legal loopholes.
By revising the CBF in advance, the Angolan government is proactively establishing a solid legislative foundation for this new tax structure. The aim is to ensure consistency and coherence across the entire fiscal environment, thereby improving predictability and reducing uncertainty for taxpayers.
The reforms also reflect Angola’s commitment to enhancing its tax governance. Key objectives include enhancing revenue collection, boosting tax transparency, and promoting economic diversification. At the same time, the government is maintaining provisions that continue to support investment incentives, particularly in priority sectors that are vital for long-term growth.
Read Also;
https://trendsnafrica.com/imf-pledges-support-for-angolas-anti-money-laundering-reforms/
These legislative changes are part of Angola’s broader macroeconomic stabilisation agenda. This includes efforts toward fiscal consolidation, more effective public financial management, and the creation of a more enabling environment for private sector development. Analysts view the reform of the CBF as a crucial milestone in bolstering investor confidence, fostering a fairer and more competitive tax regime, and supporting the country’s transition to a more resilient and diversified economy.
