Luanda: The International Monetary Fund (IMF) and the Angolan Government continue to work to strengthen technical cooperation with the aim of increasing the mobilization of tax revenues, the permanent representative of this institution in Angola, Victor LIedo said on Monday, in Luanda. According to Angola Press News Agency, speaking during the regional seminar on tax incentive management, promoted by the IMF's Regional Technical Assistance Center, which takes place in the Angolan capital until the 11th of this month, LIedo mentioned that it is a program of structural reforms that followed the conclusion of the financial assistance program in 2022. He highlighted that current cooperation is based on two main pillars, specifically, macroeconomic surveillance, which is carried out through annual visits under Article IV of the IMF, and the technical assistance and capacity building program. LIedo also noted that experts from the IMF and 'Africatitax South' have carried out regular missions to Angola to support national authorities in formulating fiscal, monetary, and financial policies, as well as improving national accounts. On the tax side, the IMF maintains a close dialogue with the Ministry of Finance and the General Tax Administration (AGT), particularly in developing the design of policies that allow balancing the need for fiscal consolidation with the pressing demands for socioeconomic development in Angola. In another sense, Victor LIedo pointed out as the main challenge facing the Angolan economy the impasse between revenue collection and economic stimulus in a supportive relationship. As a medium-term solution, the IMF representative reiterated the need to expand the tax base, which must be accompanied by incentives for the formalization of the economy, economic diversification, and the growth of small and medium-sized companies. During the three days of work, participants will discuss the design and implementation of more comprehensive tax incentive policies, with an emphasis on monitoring, eligibility , legitimacy, and compliance of the measures adopted.
