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 email@example.com.
To contact the editor responsible for this story: Antony Sguazzin at firstname.lastname@example.org.