imageAngola | Presidential Legislative Decree No. 1/14, of 13 October 2014

Tax regime applicable to the Collective Investment Vehicles

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Presidential Legislative Decree No. 1/14 of 13 October 2014 Following the creation of new mechanisms that promote and enable the economic, financial and social growth and development of Angola, it is essential to create a tax regime that addresses the inherent complexity of a participatory capital market; Taking into consideration the newly created legal regime for collective investment bodies, hereinafter referred to as «OIC’s», the tax regime applicable to these vehicles and their participants shall now set forward a capital market for the domestic investment and development, in order to maximize potential; Facing the need to promote a single tax regime for OIC’s which, on the one hand, promotes simplicity and, on the other hand, prevents the double taxation of income within the scope of OIC’s and their participants through the exclusive taxation of income on the «entry» of OIC’s, without any taxation in the scope of its participants; Taking into consideration the creation of specific exemptions in registered offices of indirect taxes, aiming to boost such investments; The President of the Republic decrees, in the use of the legislative authorization granted by the National Assembly, under article 2 of Law no. 11/14, of 30 July of 2014, and in accordance with paragraph 2 of article 99 and paragraph 1 of article 125, from the Constitution of the Republic of Angola, the following: LEGAL REGIME OF COLLECTIVE INVESTMENT BODIES