VAT Law Revisions: Implications for E-Commerce and Other Taxation Changes

• Law No. 14/23 revises the value added tax (VAT) law in Angola
• Sales of goods in Angola are taxable when the buyer is in Angola or payment occurs within the national territory
• Nonresident entities selling goods to buyers in Angola are subject to VAT taxation rules
• Additional implementing rules are expected for nonresident companies conducting e-commerce sales in Angola
• Other revisions in the law include charging VAT on gambling, raising VAT credit threshold, and imposing fines for non-compliance
• Banks are required to electronically submit quarterly files summarizing operations at automatic payment terminals
• Taxpayers under the simplified VAT regime have specific deductions and reporting requirements
• The revisions to the VAT law took effect on 28 December 2023, with the effective date considered as 1 January 2024 by tax authorities.

Source: kpmg.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

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