Angola’s Council of Ministers has resolved to reduce the value added tax (VAT) on foodstuffs by half – from 14% to 7%.
The decision was announced in a statement after the Council of Ministers met in the capital Luanda on Wednesday.
The resolutions have been submitted to Angola’s parliament for its consideration.
In the proposals, the Council of Ministers also seeks to add medicinal drugs and equipment, and books to the list of tax-exempt goods.
The executive has also proposed a law that would regulate the use of digital currencies in efforts to limit their circulation.
The Council of Ministers says it hopes an approval of the law, which also proposes a ban on cryptocurrency mining, will empower the country’s central bank to fully take charge of financial policies.
Cryptocurrency is digital money that does not require a bank or financial institution to verify transactions. It can be used for purchases or kept as an investment.
