Angola’s parliament has approved the General State Budget for 2025 on 30 December 2024, introducing amendments to corporate income tax, VAT and personal income tax.
The key tax measures are as follows:
Corporate income tax
Corporate taxpayers can deduct infrastructure investment costs for agriculture and livestock production and distribution over five years after the investment with approval from the General Tax Administration.
VAT amendments
Amendments to VAT include the reduction of the VAT rate to 5% on imports or transfers of industrial equipment by manufacturers.
If taxpayers exceed the threshold for the standard or simplified regime (AOA 350 million or AOA 25 million), VAT must be charged under the respective regime within one month of exceeding the threshold.
Personal income tax
The personal income tax exemption for employment income up to AOA 100,000 remains unchanged, A 6.5% tax rate applies to income from sales of goods and services by Group C (individual taxpayers engaged in specific industrial or commercial activities) taxpayers with turnover under AOA 10 million in 2024. A 10% tax rate also applies to Group C taxpayers in agriculture, livestock, fishing, and forestry with turnover over AOA 10 million.
Earlier, the parliament has authorised the execution of the General State Budget for 2025 on 12 December 2024.
