Taxpayers inform clients about VAT

In the total of 1,700 companies, of which 421 Large Taxpayers, registered by the General Tax Administration (AGT), begin, on Tuesday (October 1), to collect VAT, whose single rate will be 14 percent.

According to findings made by ANGOP, notice boards are posted at the entrance of establishments that have adhered to this new tax that clarify the steps to be taken before the customer has issued an invoice to purchase a good.

We inform all customers that from 01 October 2019 the VAT will be applied to invoices according to Law 7/19 of 24 April 2019, asking everyone to provide the information mentioned below before generating the invoice at the cashier and help us follow the AGT rules, reads the roadside notice of the establishment.

For billing, according to the notice, the client will be asked for the full name, address, number and ID card, as well as other data requested by AGT.

In this first phase of implementation of VAT, a tax that replaces the Consumer Tax, services related to the Education and Health sectors, as well as products such as gasoline and diesel are exempt.

AGT has registered more than 40,000 taxpayers, but for this phase only the taxpayers who are the taxpayers registered with the Tax Office of the Taxpayers, as well as those who voluntarily adhered to the general regime are covered.

These taxpayers of the general scheme benefit from reimbursement of VAT paid on their purchases of goods and services, which ensures that their prices are generally more competitive in the market.

Companies that opted for the general VAT regime now submit a periodic declaration that will be controlled by AGT.

From January 2020 onwards, they will start to submit electronic invoices, which will be controlled in detail, in terms of monitoring the collection of this tax.

For 2021, all taxpayers with annual billing or operating volume will enter the equivalent of $ 250,000 in kwanzas.

Angola is the only SADC country in which VAT is not yet in force. In other member countries of the regional economic bloc, the tax rate is over 14% and has been one of the top taxes for their state budget revenues.

Source: Angola Press News Agency