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Tax and Invoice Generation in Angola

The Angolan Government approved Value-Added Tax (VAT) to enter into force, starting in April 2019 (initially planned for January).

In terms of the banking sector, this tax will be levied on commissions derived from the non-financial services provision, since financial services are exempt. From Core Banking's point of view, there was no limitation on this tax's level of collection, as in the case of other markets.

In addition to the collection of values, it's necessary to issue invoices through a specially certified software.

Asseco PST offers a Framework for extracting the necessary information for the invoice generation, in a certified software, as well as for its tax parametrisation Consulting services in the Bank price list.

Information offered on Framework allow, among others, to identify the origin of transactions, whether it is a charge or a return, and holds all the necessary and sufficient data to issue an invoice (name, address, taxpayer number, among others)."