The Angolan and Portuguese tax administrations will begin to exchange information on taxpayers with interest to both countries, according to the agreement on mutual administrative assistance and tax cooperation signed by both governments.
The agreement, to which Lusa had access today, was promulgated by Angolan President João Lourenço at the end of the year and published in the Republic Diary on December 31 following the visit of the head of State between November 22 and November 24 to Portugal.
Signed by Angola's Minister of Finance, Archer Mangueira, and the Deputy Secretary of State for Finance, Ricardo Mourinho Félix, the agreement, read in the document, aims at "tax cooperation" between the two countries and is "very useful in the approximation and fiscal systematization of relations" between Luanda and Lisbon.
"As it aims to create opportunities for the promotion of investment and trade relations between the two States", the document adds.
In particular, the agreement provides that the tax authorities of the two countries start to provide mutual administrative assistance, "whether the person is a resident, a national citizen from one of the parts (Portugal or Angola) or from any other State".
It will also be possible to provide administrative assistance between the two countries "by conducting simultaneous fiscal controls and participation in fiscal controls abroad".
The agreement further clarifies that this "simultaneous fiscal control" takes place in each of the countries and aims to analyze "the tax situation of one or more persons in which the parties have a common or complementary interest".
"Bearing in mind the exchange of any information obtained by this means, which is expected to be relevant to the administration or enforcement of the domestic legislation of the Parties, relating to taxes covered by this Agreement" justifies the agreement.
The two countries will also cooperate in tax matters through the conclusion of agreements between the two competent authorities to carry out traineeships and other training activities, as well as regarding the exchange of technical studies, procedures and experiences in the field of tax administration".