Angola – VAT – Insurance and reinsurance: procedures for issuing invoices or equivalent documents

In brief

Instruction 0037 GACA/GJ//DSIVA/AGT/2021, of 18 June, concerns the application of VAT in the Insurance and Reinsurance sector. It foresees procedures to be observed in the issuing of invoices or equivalent documents. It revokes Instruction 000021/DSIVA/AGT /2020, of 4 September. 

This Instruction reproduces the contents of Instruction 000021/DSIVA/AGT/2020, of 4 September, regarding the clarification of the procedures to be adopted in the assessment of VAT on insurance and reinsurance. It also sers the rules applicable for the issuing invoices and equivalent documents by insurance and reinsurance companies.

The major update in vire of previous instructions concerns the fact that insurance and reinsurance companies are allowed to use the real allocation method to deduct input VAT incurred in other situations not provided for in the Instructive, subject to prior authorisation by the Angolan Tax Authority and provided that there are significant distortions in taxation.

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