Law on the Customs Regime Applicable to the Petroleum Sector
Law No. 11/04 of 12 November Because of the its high risk and large volume of investments required, the petroleum operations justify a customs regime different from that of other economic activities. The need to standardize the customs regime applicable to the different petroleum concessions laid down in the respective concession statutes, in order not only to establish an equitable treatment system for investor entities in the petroleum sector, but also to facilitate the enforcement for the said regime by state authorities. Therefore, under subparagraph f) of Article 90 of the Constitutional Law, the National Assembly approves the following: ARTICLE 1 (Purpose) This law establishes the customs regime under which petroleum operations are governed in the areas under the jurisdiction of the Republic of Angola.