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Angola to Start Taxing Informal Traders This Year, Jornal Says

March 21 (Bloomberg) -- 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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