The Angolan government has decided to change the export fee and rates for oil derivatives in order to lessen the detrimental impact of illegal fuel exports on the economy.
The Legislative Authorization Bill, which allows the President of the Republic to act on fiscal problems for the Change of Fuel Export Duties as the Holder of the Executive Power, was finally adopted today.
With the document’s acceptance, the government will begin taxing diesel, gasoline, and illuminant oil exports, with levies based on the public sale price. He cited the price of a litre of petrol in Angola at 160 Kwanzas (Kz), whereas the price in surrounding countries ranged from 450 to 800 Kz per litre.
In contrast, a litre of fuel in Angola costs 135 Kwanzas but costs over 450 Kwanzas in neighbouring countries.
“It is this price difference that has really motivated and encouraged the smuggling of fuel from our country to neighbouring countries,” he said.
He added that the government requested a customs duty rate of 135%, a risk rate of 95%, and a service charge of 0.5 per cent.
