Angolan government to begin collecting VAT tomorrow

The Angolan government begins tomorrow collecting value-added tax on goods and services sold in the country, Angop reports.

The Angolan news agency says VAT will be levied at the rate of 14 percent.

The report says VAT aims to replace consumption tax, levied at the rate of 10 percent.

Big taxpayers will be compelled to pay VAT but, to begin with, smaller taxpayers need pay the tax only if they wish to pay it instead of consumption tax, the report says.

The government meant to begin collecting VAT on July 1 but put back the imposition of the tax to October 1 to give businesses more time to prepare for the change, Angop says.