Angola to Start Taxing Informal Traders This Year, Jornal Says

Angola will start taxing informal traders this year to boost income from outside the oil industry, Jornal de Angola reported, citing Finance Minister Carlos Alberto Lopes.

A “greater percentage” of the economy in sub-Saharan Africa’s second-biggest oil producer is informal and traders must formalize some of their activities to enable the government to collect taxes, the Luanda-based newspaper said.

Taxes in the southern African nation may decline as the country broadens its tax base, Lopes said.

To contact the reporter on this story: Candido Mendes in Luanda, Angola at cmendes6@bloomberg.net.

To contact the editor responsible for this story: Antony Sguazzin at asguazzin@bloomberg.net.

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