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Monthly Archives: July 2020

Amendments of the Industrial Tax Code in Angola

Amendments of the Industrial Tax Code in Angola

The Industrial Tax Code was amended by Law no. 26/20, dated 20 July 2020. The main changes, amongst others, are:  The implementation of two taxation regimes (the General Regime and the Simplified Regime) and accounting becomes mandatory for companies in General Regime;  Interest on loans from holders of capital or supplies are deductible […]

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Law Num. 1/2020, dated 7 July, stating special tax incentive measures in Equatorial Guinea

Law Num. 1/2020, dated 7 July, stating special tax incentive measures in Equatorial Guinea

Law Num. 1/2020, dated 7 July 2020, was recently published and is applicable to all Taxpayers, individuals and legal entities, residents and non-residents in the Republic of Equatorial Guinea, which are subject to (and have not complied yet with) the following tax obligations: a) Corporate Income Tax (CIT); b) Value Added Tax (VAT); c) Personal […]

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São Tomé and Príncipe: Exceptional Regime- Terms of Production Sharing Contracts

São Tomé and Príncipe: Exceptional Regime- Terms of Production Sharing Contracts

Exceptional Regime for Easing the Terms of Production Sharing Contracts   The Council of Ministers approved Resolution No. 25/2020 dated 23 June 2020, adopting an Exceptional Regime for Easing the Terms of Production Sharing Contracts due to the impacts of the COVID-19 Pandemic in the global oil industry. The Council of Ministers granted the Executive […]

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São Tomé and Príncipe: Use of E.E.Z Oil Companies’ Funds

São Tomé and Príncipe: Use of E.E.Z Oil Companies’ Funds

Increase of COVID-19 Testing Capacity: Use of E.E.Z Oil Companies’ Funds The Council of Ministers approved Resolution No. 26/2020, dated 23 June 2020, to enter into force immediately, which authorises the use of oil companies’ funds to increase COVID-19 testing capacity. Considering as a priority the strengthening of the country’s massive testing capacity, the Council […]

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Regulation Num. 2/2020, on Petroleum Operations in Equatorial Guinea

Regulation Num. 2/2020, on Petroleum Operations in Equatorial Guinea

Regulation Num. 2/2020, dated 15 June 2020, on Petroleum Operations in Equatorial Guinea. The Ministry of Mines and Hydrocarbons (“MMH”) recently approved Regulation Num. 2/2020, dated 15 June 2020, on Petroleum Operations, revoking the previous regulation approved by Ministerial Order Num. 4/2013, dated 20 June 2013. The purpose of this Regulation is to define and […]

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The Minister of Civil Aviation signed the Circular Letter No. 005/2020.

The Minister of Civil Aviation signed the Circular Letter No. 005/2020.

The Minister of Civil Aviation signed the Circular Letter No. 005/2020 regarding the reopening of international flights. The Minister of Civil Aviation, Leandro Miko Angüe, has recently signed the Circular Letter No. 005/2020 dated 30 June 2020, stating that, in compliance with Decree no. 45/2020, dated 15 June 2020 (concerning the relaxation of the containment […]

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Third Extension of the State of Emergency in Mozambique.

Third Extension of the State of Emergency in Mozambique.

Recently, Presidential Decree no. 21/2020, dated 26 June 2020, was promulgated extending, for the third time, the State of Emergency, from 30 of June until 29 of July 2020 which maintains all the previously implemented measures and adopt new ones to mitigate the economic and social impact of the COVID-19 pandemic, such as: • Limitation […]

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Extension of State of Emergency and Lifting of mandatory confinement in Guinea – Bissau

Extension of State of Emergency and Lifting of mandatory confinement in Guinea – Bissau

On 26 June 2020 was published the fifth extension of the State of Emergency through the Presidential Decree no. 24/2020, for a period of 30 days, i.e., until 25 July 2020. On another hand, Government decided to relieve the mandatory confinement to continue the gradual and progressive recovery of economic activities. Essential measures to prevent […]

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