Law no. 18/24, of December 30, approved the General State Budget Law for 2025 (OGE), introducing several tax changes that will come into force during 2025, among which we highlight the following:
Increases in comparison with the previous State Budget
The 2025 State Budget was set at AOA 34,633,790,087,312.00 (thirty-four trillion, six hundred and thirty-three billion, seven hundred and ninety million, eighty-seven thousand, three hundred and twelve kwanzas), representing an increase of approximately 40.13 per cent compared to the 2024 budget, with an increase of AOA 9.92 trillion.
The limit for the granting of guarantees by the State was raised to AOA 1,460,000,000,000.00 (one trillion, four hundred and sixty billion kwanzas) for the 2025 State Budget, which corresponds to a significant increase of 342.42% (or AOA 1.13 trillion) over the amount authorised the previous year.
Special Contribution on Foreign Exchange Transactions (CEOC)
The CEOC, which remains in the 2025 State Budget, concerns transfers made under service contracts, technical assistance, consultancy and management, capital operations and unilateral operations.
The CEOC, as before, is levied at a rate of 2.5% for individuals or 10% for companies domiciled or headquartered in Angola, requesting transfers of funds through financial institutions which meet the legal criteria.
However, the 2025 budget introduces an exemption from CEOC: companies exclusively dedicated to diamond exploration, oil investment companies and foreign airlines authorized to operate in Angola as well as the national flag company are now exempt from paying the CEOC. As before, the state and any of its bodies, establishments and organisations (except public institutes and companies) are also exempt from the CEOC.
Financial institutions continue to be required to ensure the settlement and payment of CEOC, failing which they may face fines equivalent to the contribution amount and other sanctions under the General Tax Code.
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