Circular Letter No. 05/2022 – Financial System: Compliance with Tax Obligations and Seizure Warrants

CIRCULAR LETTER NO. 05/2022 SUBJECT: FINANCIAL SYSTEM

• Compliance with Tax Obligations and Seizure Warrants

In view of the need to comply with tax obligations and seizure warrants issued by the General Tax Administration (AGT), within the scope of its powers and competencies, in accordance with the combined provisions of paragraph 2 of Article 97 of the Code of Fiscal Executions (CEF), approved by Law No. 20/14 of October 22, and paragraph b) of paragraph 1 of Article 7 of Presidential Decree No. 324/14 of December 15, which approves its Organic Statute;

Considering the provisions of paragraph 1 of Article 1 of the General Tax Code, approved by Law No. 21/14 of October 22, and Articles 97 et seq. of the Code of Fiscal Executions (CEF), Banking Financial Institutions (IFB's) are required to comply with tax obligations and seizure warrants, by attaching funds deposited in bank accounts held by debtor entities, as well as notifying the Fiscal Execution Administrative Body.

Within the scope of the duty of cooperation, established in paragraph 4 of Article 84 of the General Tax Code (approved by Law No. 21/14 of October 22), Article 24, and paragraph i) of Article 143 (both of Law No. 14/21 of May 19, the General Regime for Financial Institutions), the Banco Nacional de Angola recommends to Banking Financial Institutions strict compliance with the aforementioned duties.

Any doubts and omissions arising from the above are resolved by the Banco Nacional de Angola.

This Circular Letter enters into force on the date of its publication.

Luanda, July 27, 2022. DEPARTMENT OF REGULATION AND ORGANIZATION OF THE FINANCIAL SYSTEM

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Carla Marisa Rodrigues Madeira Gomes -Director-