Luanda — The Value Added Tax (VAT), which comes into force on July 1, exempts companies in the oil sector linked to research and development, Luísa Cursino, an official of the General Tax Administration, announced on Tuesday in Luanda (AGT, acronym in Portuguese).

Speaking to the press, on the sidelines of the "Angola Oil and Gas 2019" conference, opened on Tuesday by the President of the Republic, João Lourenço, Luisa Cursino stressed that VAT is already a reality.

She informed that the oil sector is extremely important for the country, which is why the VAT code is safeguarded and suppliers who do not have headquarters in Angola are not required to have a fiscal representative in the national territory. .

Presidential Decree No. 258/17, of October 27, approves the Executive's Intermediate Plan including the measures necessary for its implementation, with emphasis on the application of VAT to the General State Budget (OGE ) of 2019.

The forum, which is being held from June 4 to 6, takes place at a time of deep reforms in the oil and gas sector, starting in 2017, hence the support of the executive for this initiative. Africa Oil & Power.

The conference, which brings together key players from the global oil industry and consulting firms, national and international oil markets, addresses the challenges of offshore and onshore exploration.

In addition to industry officials, the conference brings together more than 800 delegates, including members of the governments of oil and gas producing countries, representatives of international institutions and major oil companies and global distributors such as Total, Chevron, ExxonMobil , BP, ENI and Equinor.