Luanda: The General Tax Administration (AGT) has successfully refunded 191 billion kwanzas in Value Added Tax (VAT) to companies up to June this year, confirmed Jos© Leiria, Chairman of the AGT Board of Directors, during an event in Luanda. This development is part of AGT's ongoing efforts to enhance tax control mechanisms and implement electronic invoicing, with a projection to reach approximately 300 billion kwanzas in refunds by 2026.
According to Angola Press News Agency, the introduction of VAT in 2019 marked a significant shift in the country's tax landscape. Refunds began in 2020, showing a consistent upward trend with each passing year. Since VAT's implementation, a total of 770 billion kwanzas has been refunded, reflecting the strengthening of verification mechanisms and alignment with company-adopted tax compliance measures.
Jos© Leiria emphasized the role of electronic invoicing in the process, revealing that over 58,000 taxpayers are now issuing invoices electronically, including more than 430 large taxpayers. Current data suggests the reporting of 63 million invoices, which translates to a business volume of 53.4 trillion kwanzas.
The AGT is also generating 1.6 billion kwanzas monthly from new taxpayers who were previously part of the informal economy. This is facilitated through the Tax Compliance Induction Program, a successor to the "Informal Operation," managed by AGT. The General Tax Administration is tasked with the collection of state revenue and the management of customs control to benefit Angolan society.
