- Angola is modernizing its tax system with electronic invoicing for businesses and a rewarding invoice regime for individuals.
- The initiative aims to enhance tax compliance, combat tax evasion, and increase transparency.
- Electronic invoicing will be phased, starting with large taxpayers and eventually including all businesses.
- The rewarding invoice regime will offer prizes to individuals who request invoices, promoting tax compliance.
- The regime’s mechanics involve regular draws for invoices, in partnership with the National Gambling Institute.
- Broader tax reforms include a new Personal Income Tax Code, amendments to the General Tax Code, revisions to the Tax Benefits Code, and a new Customs Code.
Source: taxilla.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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