New Investment Law entered into force

The new law aims to reduce the bureaucracy surrounding the procedures for the acceptance of eligible investments. Also, it aims to match the incentive and benefit mechanisms with the country’s current economic framework. Incentives and tax benefits are now analyzed, in accordance with specific criteria included in the law, allowing for a gradual reduction of industrial tax, investment income tax and urban property transfer tax. The law applies to foreign investments, regardless of their amount, as well as to domestic investments with an amount equal to or greater than Kz 50 million (approx. US$399,000). However, it does not apply to investment projects approved prior to its entrance into force.

• Type:

  • Entry and establishment (Approval and admission)
  • Promotion and facilitation (Investment incentives)

• Industry:

  • Not industry specific

• Sources:

  • Ernst & Young, Angola enacts new Private Investment Law, http://www.ey.com/Publication/vwLUAssets/Angola_enacts_new_Private_Investment_Law/$File/2015G_CM5685_Angola%20enacts%20new%20Private%20Investment%20Law.pdf, 05 Aug 2015