New framework for incentives
16 Mar 2012
Presidential Decree No. 3 of 2012 provides a framework for incentives to Angolan oil companies, both publicly-owned and private companies. It reduces the IPR rate in production sharing contracts from 50 percent to the industrial tax rate in force, which is currently 35 percent. For other types of contracts, the rate is reduced from 65.75 percent to the current rate. It also exempts private oil companies from the obligation to contribute to the financing of research companies. Moreover, it exempts Angolan oil companies from the payment of contributions to social projects contained in petroleum contracts concluded between the concessionaire and its associates.
-
Type:
-
Promotion and facilitation (Investment incentives)
-
Industry:
-
Primary (Mining and quarrying)
-
Sources:
