- The IMF report addresses Angola’s large buildup of excess VAT credits and refunds, equal to about 0.5% of GDP, caused by structural, legal, operational, and compliance issues.
- It recommends strengthening VAT refund management through better invoice controls, risk-based checks, improved SAF-T and VAT filing compliance, alternative collection methods for high-risk sectors, and advanced risk analytics.
- It also proposes an Extraordinary VAT Excess Credit Regularization Program to clear long-standing balances.
- The report suggests reviewing cross-tax offsetting and improving governance, transparency, and internal controls in the VAT refund system.
Source: imf.org
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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