PricewaterhouseCoopers managing director, Pedro Calixto, considers that a drop in the Corporate Tax rate from 35 percent to 30 percent is “a comparative advantage for Angola, a country whose Government has tried to encourage diversification of the Economy”.
The statement was made by Pedro Calixto during a meeting on taxes promoted by the Association of Contractors of the Angolan Oil Industry (AECIPA). According to PwC’s director, “This lower rate will make Angola more competitive, given that decreases in tax load attracts investors”.
According to the press, Pedro Calixto also mentioned that “When taxes are well defined and implemented this boosts other sectors of economic activity in a country like Angola, which wants to assert itself in Africa in particular and in the world in general”.
Noting that legislation on Corporate Tax dated from the 1970s, Calixto said Corporate Tax reform in Angola is clarifying and enhancing Angolan legislation in line with international best practices.