General State Budget for 2023

Law 2/23 of 13 March 2023 has been published to approve the General State Budget for 2023 (“GSB 2023”).

The 2023 State Budget estimates revenue and sets expenditure at AOA (kwanza) 20.1 trillion (about EUR 38.3 billion). Of this, AOA 3.4 trillion (EUR 25.5 billion) is tax revenue and AOA 6.6 trillion (EUR 12.5 billion) is financial revenue.

In order to consolidate macroeconomic stability, the government proposes to keep fiscal policy anchored to the continued consolidation of public finances. It aims to reduce the non-oil primary deficit through a series of tax and customs measures aimed at reducing costs in the supply chain of goods and services.

We will now take a look at the main tax innovations introduced by the GSB 2023.