The Portuguese Secretary of State for Fiscal Affairs, Sergio Vasquez has announced that discussions with authorities in Angola have begun towards the negotiation of a convention for the avoidance of double taxation with respect to taxes on income.
The Portuguese government said in a statement that the negotiations are as part of government efforts to expand its network of double tax treaties, which provide reciprocal benefits to both signatories in terms of enhancing trade and investment.
The government said that African countries, Angola in particular, are of particular strategic importance given the strong economic relationships Portugal boasts with the region. The conclusion of a double tax treaty is considered essential, the government further said, to relieve businesses and individuals investing in Angola, and vice versa, from the burden of double taxation.
Portugal already has a sizeable double tax network with African countries, which includes Cape Verde, Mozambique, Guinea-Bissau and South Africa, and is negotiating similar agreements with Botswana, Namibia, Malawi and Ethiopia.
.Tags: tax | law | trade | business | agreements | individuals | double tax agreement (DTA) | Angola | Portugal | Portugal | Angola
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