Angola – Employment Income Tax Code Amendments Effective 1 January 2024
The General State Budget (OGE) for 2024 was
approved by National Assembly on 13 December 2023 and enacted on 26 December
2023.
According to the Ministry of Finance, the amendments
to the 2024 Economic Year (OGE-2024) appears in Law No. 15/23, of 29 December
2023 (OGE-2024 Law), and in all its annexes. The Law is effective from 1
January 2024.
This following tax measures affects payroll in
Angola for the 2024 tax year:
- Article 20 amends the Employment Income
Tax Code (Imposto sobre os Rendimentos
do Trabalho) - income earned
up to a limit of Kz 100 000 is exempt from IRT.
- This amendment includes revised
individual income tax (IRT) brackets for the 2024 tax year.
- The zero-rated bracket increases from Kz
70 000 to Kz 100 000.
- The 10% bracket of Kz 70 000 to Kz 100 000 is removed.
Monthly income
tax (IRT) brackets effective 1 January 2024:
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