Luanda, Angola – The Angolan parliament votes on January 23 the draft resolution approving the agreement between Angola and Portugal to eliminate double taxation between the two countries was announced today.
According to Raul Lima, the first secretary of the Angolan National Assembly, this project, among other proposals from the Angolan Government that go to the vote on the same day, aims to “eliminate double taxation on income taxes” and “prevent fraud and tax evasion. ”
Speaking at the end of the conference of parliamentary leaders scheduled for January 23, the first plenary meeting of 2019, the deputy said that this session will also vote on the Draft Resolution approving the fourth addition to the Convention on the Coverage of Risks of Credits for the Exportation of Goods and Services of Portuguese Origin (COSEC) to the Republic of Angola.
On November 15, the Angolan government submitted to the National Assembly for approval the draft resolutions approving agreements signed with Portugal during the Portuguese Prime Minister’s visit to Angola last September.
At the same time, the Portuguese Council of Ministers approved the convention to avoid double taxation of income taxes and to prevent fraud and tax evasion.
This agreement, the Portuguese Council of Ministers explained, “represents an important contribution” to the development of economic relations between Portugal and Angola, in the context of “trade and service provision, investment flows and movement of people, capital and technology “.
During the visit of the Portuguese Prime Minister to Angola, 11 cooperation instruments were signed, including agreements and protocols, with emphasis on the two conventions, as well as the Strategic Cooperation Program (PEC) 2018-2022, the third Addendum to the Indicative Cooperation Program (PIC) 2007-2010 and an agreement on Mutual Administrative Assistance and Cooperation in Tax Matters.
The fourth addition to the Convention on the Coverage of Credits Risks for the Exportation of Goods and Services of Portuguese Origin to Angola was another of the agreements signed by the two countries, with emphasis on simplification measures and the conditions necessary to increase the limit of that line, which goes from 1 billion euros, already depleted, to 1,500 million euros.