VAT is coming! All taxpayers in Angola, by now, should know that Value Added Tax (VAT) will come into effect as of 2019, following the tax reform approved in 2011, aiming at the improvement of the Angolan tax system, the new economic and social reality of the country. The introduction of this new tax on the Angolan fiscal map will entail a profound change in the administrative processes of the companies, which will then be forced to calculate and withhold VAT on behalf of the State in all transactions carried out.
In practice, with the introduction of this tax, every month VAT registered entities (companies) will have to add to the value of the products and services that market the value of the tax, register it and communicate it to the State through of Periodic Statements. To simplify this operation, PRIMAVERA BSS will make available in its management software automatisms that automatically calculate the referred tax and the issuance of tax returns, with a guarantee of automatic completion of periodic VAT declarations and their annexes.
This technology will be made available free of charge to companies that use the PRIMAVERA management software, within the scope of their service contract. In this way, the Angolan business community will be prepared to respond quickly to new tax obligations.
Country Manager of PRIMAVERA Angola, José Simões, underlines "the experience we have of other markets where VAT has been applied for many years allows us to have a lot of know-how and certainty regarding the practical implementation of this tax, helping the Angolan business fabric in several ways: either through the availability of fully adapted software to the new tax situation, either through the training of company executives who can participate in clarification sessions and in the training actions that we will promote with the support of tax specialists. Over the years we have been at the side of companies, assisting all management processes and responding to tax obligations, so in this moment of great change, we are even more focused on providing solid support, quality and rigor. "
On 23 October, the main players in the process were brought together, entities such as Jorge Batista, Co-CEO of Primavera, Adilson Sequeira, Coordinator of VAT implementation in Angola and Conceição de Matos, Administrator of AGT, Agência Geral Tributária and also representatives of the Order of Economists and Accountants, debated on the effective implementation of VAT in Angola.
During the event, Conceição de Matos representing AGT stated that "VAT has come to facilitate the work, since it is an instrument that brings greater transparency and tax justice to Angola. We are going to look for something new, joining the experience of other countries, but this is the VAT of Angola thinking about the Angolans. "
Before the Value Added Tax comes into force, PRIMAVERA will make available a new version of its fully adapted management software to meet the tax requirements of the new tax. Meanwhile, through its training academy, it will make available specialized training courses on VAT.
