Luanda — The National Assembly (AN) passed last Friday, in general terms, the bills that approve the Property Code and the Motor Vehicles Tax Code.
When presenting the bill that approves the Property Tax Code, the minister of Finance, Vera Daves, said it is time to make a deeper adjustment, adapting the diploma to the country's social and economic reality.
According to the minister, this tax will constitute one of the main sources of financing for future municipal administrations, based on Law No. 13/20 (Law on Financing of Local Governments).
With this diploma, the Executive starts to tax unproductive agricultural land, in order to encourage those who hold them to exploit their properties (agricultural land plots) or give them up (rent them or through another type of contract that they may prefer) to those who have financial conditions, as well as make the property tax revenue act as a typical revenue source for local governments.
By proposing the diploma, the government intends to revoke the Road Tax and, instead, put an additional taxation on cars with longer usage times.