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The Angolan and Portuguese governments aim to eliminate the double taxation of pensions and income of businesses and workers, according to the proposal approved today by the Portuguese parliament and which will be voted on Wednesday at the Angolan National Assembly.
What is at stake is the motion for a resolution approving the Convention on the elimination of double taxation in income taxation and the prevention of fraud and tax evasion between the republics of Angola and Portugal, a document to which Lusa has had access and foresees an initial term of the agreement for eight years.
Specifically, the proposal, which has already been discussed in the specialty of the National Assembly and which stands for the final vote in the Angolan parliament – a step that precedes the promulgation by the President of the Republic of Angola, to enter in force – intends to "develop" and strengthen their tax cooperation "between the two countries.
"This Convention applies to income taxes levied on behalf of a Contracting State or its political or administrative subdivisions or local authorities, regardless of the system used for their collection," the document states.
The convention "applies to persons residing in one or both of the Contracting States" and also applies to companies or companies active in more than half of the year in the other country.
The agreement also states that "it does not affect the taxation by a Contracting State of its residents, except for the benefits granted", in particular for the remuneration of civil servants (both States), teachers and researchers, artists and athletes, students and trainees, as well as profits, dividends or royalties, among other income, of companies.
It also applies to pensions resulting from previous employment "that can only be taxed in that state".
In the second article of the proposal, as regards the "taxes referred to" by the agreement, Portugal, in particular, refers to personal income taxes (IRS) and personal income taxes (IRC), as well as al Derrama (applied to corporate profits). In Angola, the convention aims to avoid double taxation of income taxes on labor, industry, urban land on income and on the application of capital.
"All taxes on total income or income are included as income taxes, including taxes on profits from the sale of movable or immovable property, taxes on the total amount of salaries or wages paid by companies, as well as taxes on capital gains ", also defines the text of the proposal, which has already been approved by the Councils of Ministers of both countries.
It is also expected that the "competent authorities" of Portugal and Angola "will exchange information that is predictably relevant" in tax matters.
In today's vote in Portugal, the resolution of the government was approved by all parties with parliamentary seats, with the exception of the left bloc, which abstained.
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