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Angola Business Report
General information
Source: The World Factbook - Central Intelligence Agency
Population
30,355,880 (July 2018 est.)GDP (PPP)
$193.6 billion (2017 est.)GDP growth rate
-2.5% (2017 est.)The economy slowed sharply after the oil price crash. Oil contribute about 50% of GDP, more than 70% of government revenue, and more than 90% of the country's exports
GDP (PPP) per capita
$6,800 (2017 est.)Very low. High income inequality.
Local currency
Kwanza (AOA)Dratically devalued in the last 5 years
Financial stability (Public debt)
65.0% of GDP (2017 est.)Medium to low, but risky depends heavily on the price of oil
Inflation
29.8% (2017 est.)Extremely high. Kwanza lost almost 80% of its value in the last 5 years (vs USD dollar)
Language
Portuguese (official)More than 70% of the population speak Portuguese. Many other languages are spoken locally. English is not widely spoken
Corruption perception index (Source: Transparency International)
Rank 165/180Extremely high level of corruption
Duties and tax
Source: PwC World Tax Summaries 2017-2018
VAT
14% standard VAT rateIt was introduced the 1st October 2019, there are many exceptions (you can check in on PWC website)
Corporate Tax
30% standard rateDuties
Rates from 2% to 70%, depending on the type of imported goods.In addition, there is an excise duty, with different rates of 2%, 5%, 19%, and 25%, that is applied to a wide category of products
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