TechInAfrica – The governments from both countries, Angolan and Portuguese signed an agreement in Luanda to stop double taxation on income taxes and avoid fraud and tax deflection between the countries. The signing took place during the official visit of the Portuguese Government’s leader to Angola as a contribution to the tax support of Angolan investment in Portugal and Portuguese investment in Angola.
The agreement was signed by the Angolan Minister Archer Mangueira and Portuguese Deputy Secretary of Finance, Ricardo Mourinho Félix. It preserves the internationalization and conformity between the companies from both countries.
As the representations of Portuguese, President João Lourenço and the Prime Minister, António Costa signed the memorandum as the beginning of a debt completion process for Portuguese companies. The debt estimation is around EUR 400 and 500 million. Both firms of public works and civil construction are the companies with late payments among the others.
Besides the settlement on taxation, both countries also set an agreement on air transport aiming to grow the connections and cooperation between the Public Debt Management Unit and the Portuguese peer, the Treasury Management Agency and of Public Debt (IGCP).
In relation to the introduction of VAT in Angola, both countries set an agreement on “mutual administrative assistance in tax matters” that aims to form the basis for mutual administrative assistance in tax matter and for collaboration in the introduction of VAT in Angola. The agreement is already included in the framework of the General State Budget (OGE) for 2019.
In term of other agreements, they include some areas such as health, security, technical-military assistance, and delegated cooperation programs of the European Union in Portugal, containing food safety, revitalization of technical education and vocational training.
The visit in Angola is the first official visit of Portuguese Prime Minister, António Costa ever since its leadership in the Portuguese Government in November 2015.