Disorganised firms run high fiscal risk

Luanda – Firms in Angola need to significantly improve their levels of organisation and compliance, with a view to avoiding high taxations on them, said last Friday, in Luanda, a specialist from the KPMG consultancy company.

Gustavo Amaral was speaking at the presentation ceremony of the theme “The new paradigm of fiscal inspections”, held as part of the 52nd edition of the First Friday Club, organised by the USA/Angola Chamber of Commerce (USACC).

The KPMG specialist reminded that nowadays the General Tax Administration (AGT) has a series of mechanisms that enable it to collect taxes coercively, regardless of the will of the taxpayer.

He also reminded some of the penalties, outlined in the new Tax Code, applied in cases of tax evasion, such as non renewal of work permits for foreign workers, as well as the prohibition of import operations and external payments.

In view of this reality, he appealed to firms to improve their organisational level and comply with the norms.

“Most services firms in Angola need to focus on organisation, mainly in their accounts, to avoid being caught by the tax inspection”, stressed the source.

On the other hand, Gustavo Amaral assured that the Tax Reform – being implemented by the Angolan government – has not increased the taxation amounts a lot, commending the Executive for such stance.

Source: Angola Press News Agency