The Angolan General Tax Administration (AGT) collected 60.3 billion kwanzas (66.1 million euros) in 2023 from the collection of Property Tax (IP), estimating a 6% growth for this year, the entity announced Wednesday January 10.
Preliminary data on IP and Motor Vehicle Tax (IVM) revenue was presented Wednesday. At a press conference in Luanda, the AGT, which expects to collect 63.7 billion kwanzas (69 million euros) in 2024, said that as of January 4 it had 298,885 properties in its database, mainly apartments, villas and offices.
According to the Angolan tax authorities, in 2023, the property register grew by 15% compared to 2022 and revenue estimates for 2024 represent an increase of 6% compared to 2023.
In 2023, IP revenue represented around 1.3% of non-oil tax revenue. With regard to the IVM, which will be collected as of today, the AGT said that 4.4 billion kwanzas (4.8 million euros) were collected in 2023 and it expects another 5.4 billion kwanzas (5.9 million euros) to be collected this year, an increase of 6% on the amount collected in 2023.
At least 668,846 vehicles had been registered with the Angolan tax authorities by January 4, 2024. This includes 176 aircraft, 2,851 boats, 64,429 motorcycles and 72,263 heavy and light vehicles. Non-payment of IP and IVM results in a fine of 25% of the value of the tax due.