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29 February 2016

Angola introduces Special Contribution on Banking Operations

Following the authorization provided in the approved Budget Law for the Angolan State, the Presidential Legislative Decree no. 1/16, of February 24, establishes the legal regime of Special Contribution on Banking Operations (SCBO), entering into force 90 days after its publication (on May 24). The SCBO will be levied, at the rate of 0.1% over the value of the operation.

A Tax Alert prepared by Ernst & Young Angola, and attached below, provides additional details.

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Document ID: 2016-0405

 

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