imageAngola | Presidential Decree No. 204/15, of 28 October 2015

Regime applicable to provisions

Preview Extract:

Presidential Decree No. 204/15 of 28 October 2015 The approval of the Corporate Income Tax Code, in accordance with the Government Guidelines for the Tax Reform, operated under Law No. 19/14, of 22 October 2014, aims to respond to the need for modernization and adequacy of its regime facing the socio-economic reality of the country, as well as to define a new paradigm for the legal and tax treatment of the income of commercial companies and similar legal entities, arising from the practice of economic activities; Considering that the term of the Corporate Income Tax Code and its effective application require the definition of its regulatory and complementary framework, with regards to the regime of tax-relevant provisions; Facing the need to set forth a new regime on provisions, both in terms of annual rates and of accumulated limits, one that can sustain the qualitative effectiveness of the rules of the new Corporate Income Tax Code and ensure its real and positive impact on the different sectors of the domestic economy; Under the terms of subparagraph 1 of article 120 and paragraph 3 of article 125, both from the Constitution of the Republic of Angola, the President of the Republic decrees the following: