Notice n.º 93/2019, dated 1 October 2019, has recently been published in the Portuguese Official Gazette informing that, on 19 February 2019 and on 22 August 2019, the Ministry of Foreign Affairs of Angola and the Portuguese Embassy in Luanda, respectively, received the confirmation on the fulfillment of the internal law requirements necessary for the entrance into force of the Convention between the Republic of Angola and the Portuguese Republic on the Elimination of Taxation on Income Taxes and Prevent Fraud and Tax Evasion.

Accordingly, the Convention between Angola and Portugal entered into force on 22 August 2019, although its provisions are only applicable to taxable events taking place after 31 December 2019.

In view of the beneficial tax treatment provided by the Convention, it is of utmost importance to revisit the holding structures currently in place for the Angolan investment and, in particular, the income flows being channeled to and from Angola.

To access the relevant document, please refer to the attachment (in Portuguese).