Angop - Agência de Notícias Angola Press

VAT improves business procedures

Tue, 03 Dec 2019 13:26 - Economy

Lobito - The implementation of Value Added Tax (VAT) is helping to improve the organisation of companies, with participation of accountants in the preparation of the processes, said on Monday in the centre-west Benguela Province, the director of the Press Office of the Angolan Association of Accounting Experts, Joel Costa.

  • VAT improves business procedures

The official said so to ANGOP in the end of a three-day meeting promoted by the Technical Group for Accountants Support to the implementation of VAT.

Joel Costa underscored that previously many companies did not pay due attention to the work of accountants, a situation that now tends to change with new scenario of VAT implementation.

The event also cleared doubts concerning several processes and reassured continuous training of accountants so that employers do not encounter constraints in the initial phase of the VAT implementation.

This technical group recently signed a protocol with the General Tax Administration (AGT) with the aim, to among other objectives, identify and eliminate barriers in the implementation of taxes and establish a harmonious relationship between accountants and institutions benefiting from these services.

The institution has more than 4,700 accountants and over 4,000 trainees and candidates.