Angola: Growth targets delay tax reform

Comment on this story

Planned tax changes in Angola had been hindered by inaccurate budget targets and perceptions the measures would hurt the economy, the Christian Michelsen Institute said. The country has yet to approve three new tax codes first submitted to the government in 2011. President José Eduardo dos Santos in October cut an estimate of last year’s economic expansion to 5.1 percent from 7.1 percent, while the 2012 budget projecting a 12.8 percent increase to the $114 billion (R1 trillion) economy was later lowered to 7.1 percent. “Tax reform is being delayed because it’s perceived as adding both economic and administrative constraints to economic growth,” Odd-Helge Fjeldstad, the senior researcher at the Norway-based institute, said on Wednesday. “Budget forecasting has disconnected from reality by overestimating revenue from non-oil industries.” He added: “The government seems to lack the political will, transparency and expertise to reform taxes and improve revenue projections.” – Bloomberg

sign up

Comment Guidelines

  1. Please read our comment guidelines.
  2. Login and register, if you haven’ t already.
  3. Write your comment in the block below and click (Post As)
  4. Has a comment offended you? Hover your mouse over the comment and wait until a small triangle appears on the right-hand side. Click triangle () and select "Flag as inappropriate". Our moderators will take action if need be.

  5. Verified email addresses: All users on Independent Media news sites are now required to have a verified email address before being allowed to comment on articles. You are only required to verify your email address once to have full access to commenting on articles. For more information please read our comment guidelines