Angola salaries below $120 to be exempted from tax

Angola has announced that it will exempt people earning a maximum of 100,000 kwanzas ($120) monthly from paying income tax.

Previously, the exemption was granted to people earning a maximum of 70,000 kwanzas ($85) per month.

On Tuesday, Finance Minister Vera Daves said that the new tax-exemption plan is contained in the 2024 budget proposal.

Daves said the move aims to reduce economic hardship on the citizens.

Angola charges an income tax of between 10% and 25% on formally employed people, while self-employed people pay a flat-rate tax of 15%.

In the budget proposal, Daves said the government had increased allocation to agriculture by 80%.