Angola Introduces Various VAT Code Changes Including Increased Exclusion Threshold

According to recent reports, Angola has introduced various changes to the VAT Code, which include the following:

• Natural or legal persons with turnover or import operations of up to AOA 25 million are excluded from the scope of VAT (up from AOA 10 million);
• VAT taxpayers under the general regime that only perform VAT-exempt transactions are required to pay 1% stamp duty on receipts from such transactions (down from 7%);
• Taxpayers under the simplified VAT regime, which are subject to a 7% VAT…