The measures will make it possible to raise tax revenue and have come into force precisely when oil revenues are falling sharply due to a drop in international oil prices.
“In the medium term, and with the development of the formal economy and Angola-based economic activity, I would not be surprised if the Angolan state was able to raise enough non-oil revenues to offset oil,” said Charles Wolf, cited by Jornal de Angola.
In 2014 oil exports provided Angola with US$27.5 billion, a drop of US$5 billion compared to 2013, due to a decline in the international price of oil, according to the Ministry of Finance. (macauhub/AO)
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