Statistical Information Notice No. 14/2012 on Balance of Payments

CENTRAL BANK OF ANGOLA OFFICE OF THE GOVERNOR

NOTICE NO. 14/2012 of April 19

SUBJECT: STATISTICAL INFORMATION – BALANCE OF PAYMENTS

HAVING REGARD TO the need to regulate the obligation to provide statistical information by the entities mentioned in Article 2 of Notice No. 11/12 of April 12, in order to ensure a reliable and timely information system for the compilation and processing of Balance of Payments statistics, as provided in Article 18 of Law No. 2/12 of January 13;

HAVING REGARD FURTHER TO the need to regulate the obligation of the aforementioned entities to submit an annual Forecast Exchange Budget to the Central Bank of Angola, as provided in Article 19 of the aforementioned Law;

IN THE EXERCISE OF the powers conferred upon me under the combined provisions of Article 3 of Law No. 5/97 of June 27, and Articles 16(2)(a) and (c), 17, 40, and 51 of Law No. 16/10 of July 15;

I HEREBY DETERMINE:

Article 1 (Subject Matter)

1. This Notice aims to establish the type, format, and periodicity for submitting information elements necessary for recording and compiling the Balance of Payments and International Investment Position, as well as the Forecast Exchange Budget to be provided by the entities referred to in the following article.

2. For the purposes of the preceding paragraph, information must be provided in accordance with the instructions contained in Annex I and the format of Annex II to this Notice, which form an integral part thereof.

Article 2 (Scope)

1. This Notice applies to the National Concessionaire – Sonangol, E.P.- and its affiliated national and foreign entities, as well as to the operator executing petroleum operations within the concession area.

2. The provisions of this Notice also apply to Projects for which the approved implementation by law determines the applicability of the legal regime for petroleum activity.

Article 3 (Confidentiality)

Information provided under this Notice is strictly confidential and protected against any non-statistical use, in accordance with Law No. 3/11 of January 14 and subsidiarily by other applicable regulations.

Article 4 (Periodicity)

1. The reporting of the information referred to in Article 1 above must be submitted quarterly, with respective monthly breakdown, and must be sent in Excel format to the following address: https://portaldes.bna.ao/

2. The information regarding the Forecast Exchange Budget is exempt from the periodicity established in the preceding paragraph, with an annual submission frequency.

3. In exceptional cases where the procedure for sending the aforementioned statistical data is not feasible, reporting files may be sent via alternative electronic means.

Article 5 (Submission Deadline)

1. The information mentioned in paragraph 1 of the preceding article must be sent to the Central Bank of Angola by the 20th working day following the end of the respective quarter.

2. The information mentioned in paragraph 2 of the preceding article must be sent to the Central Bank of Angola by November 30 of the year prior to that to which it relates.

3. For the purposes of this Notice, "working days" are considered all calendar days except Saturdays, Sundays, national holidays, and Carnival (Entrudo).

Article 6 (Appointment of Qualified Interlocutors)

1. The entities referred to in Article 2 of this Notice must appoint interlocutors (at least one substantive and one alternate) qualified to answer potential questions regarding the reported information that the Central Bank of Angola may raise, who shall be designated as "Statistical Correspondents".

2. For the purposes of the preceding paragraph, the aforementioned entities must use the model attached as Annex III to this Notice, which forms an integral part.

3. To ensure prompt responses to questions raised by the Central Bank of Angola, the reporting entities mentioned in paragraph 1 must ensure the permanent availability of at least one designated interlocutor, obligatorily substituting them definitively or temporarily when this condition cannot be met.

4. Reciprocally, the Central Bank of Angola will designate its interlocutors to clarify any doubts arising from the application of this Notice.

Article 7 (Infringements)

(Refusal and Falsity of Information)

The refusal to provide the information stipulated in this Notice, as well as its falsity, are punished respectively with the penalties applicable to the crimes of disobedience and false declarations under criminal law, as provided in Article 17(2) of Law No. 16/10 of July 15.

Article 8 (Administrative Transgressions)

In case of non-compliance with the provisions established in this Notice and complementary regulations, not covered by the preceding article, the legally established sanctioning regime shall apply, notably those set forth in Articles 33 to 37 of Law No. 3/11 of January 14.

Article 9 (Entry into Force)

This Notice enters into force on May 13, 2012.

PUBLISHED:

Luanda, April 19, 2012

THE GOVERNOR JOSÉ DE LIMA MASSANO

Annex I

SUBJECT: Instructions for completing the Statistical Communication Article 1, paragraph 2 of Notice No. 11/12 of April 12, 2012

I. General Definitions

1. Nature of Information This questionnaire shall be completed to reflect the company's activity as a concessionaire, operator, or affiliate, with reference to the expressly designated block or association.

2. Subject Matter of Information The information to be declared must cover all transactions conducted by the company with non-residents, as well as variations in its external assets and liabilities occurring during the reference period.

• Definition of "Resident" and "Non-Resident" Institutional units with a center of economic interest within the economic territory of a given country are considered "residents" in that country, according to the meaning attributed to them in Article 4(1) of Law No. 5/97 of June 27. Under the national foreign exchange regime, "non-resident" economic agents (individuals or legal entities) are those with a center of interest outside the national economic territory, or who operate within it only on a temporary basis (typically less than one year). For example, embassies and consulates of other countries located in Angola, as well as international organizations established here, are non-resident entities. These general aspects align with the concepts underlying the definition of residents (and non-residents) provided in legal instruments (foreign exchange law and complementary regulations, e.g., Presidential Decrees, Notices, and Instructions), which regulate economic and financial operations with the outside world, i.e., foreign exchange transactions. This means that, for the purposes of preparing the "Balance of Payments", branches, subsidiaries, delegations, or any other forms of representation existing in Angola, considering that they conduct economic operations within the national territory, are considered "residents".

3. Unit of Measurement Values to be declared must be recorded in thousands of US dollars (USD 1,000.00).

4. Module 1 – Company Identification This module serves to identify the reporting company and the association or block to which the information refers.

II. General Standard

1. The Concessionaire must provide information regarding all transactions inherent to its activity, namely importation, exportation, and re-exportation of goods, receipt and payment of current invisibles, and importation and exportation of capital, including the opening of accounts abroad as well as the International Investment Position.

2. The Operator must provide information regarding its own revenues and expenses, namely importation, exportation, and re-exportation of goods, receipt and payment of current invisibles, and importation and exportation of capital, including the opening of accounts abroad and its own International Investment Position, as well as transactions of the 100% block or association.

3. Affiliated entities must report solely on their revenues and expenses, namely importation, exportation, and re-exportation of goods, receipt and payment of current invisibles, and importation and exportation of capital, including the opening of accounts abroad and their own International Investment Position.

III. Module 2 – Specific Standards

1. Current Transactions 1.1 Goods All transactions of goods or merchandise (exports and imports) must be recorded at their FOB value from a transactional perspective, i.e., taking into account the moment of change of ownership, which by convention is assumed to be the moment of goods entering/leaving the Country.

1.2 Services Covers all transactions listed in the specified questionnaire rubrics, recorded at their commercial value with reference to the period in which they are effectively settled, i.e., on the date of fund transfer.

1.2.1 Transport Includes all transport services (maritime, air, and land) provided by residents of one economy to another, including passenger transport, freight (transportation of goods), chartering of transport means with crew, and related auxiliary services. Certain activities related to said services are excluded: i) freight insurance forming part of the insurance service, ii) goods acquired in ports by non-resident transport means appearing under goods, iii) chartering of transport means without crew classified under other services received or paid to non-residents (rubric 1.2.6).

1.2.1.1 and 1.2.1.3 Freight Includes the service of transporting imported goods (charged by the exporter) or exported goods (charged to the importer) by a transport means, and loading/unloading of goods if the contract between the goods owner and the transport means stipulates that the latter provides this service.

1.2.1.2 and 1.2.1.4 Chartering Includes chartering of ships, aircraft, freight wagons, and other commercial vehicles to non-residents with crew. Also includes towing services and others related to the transport of oil platforms, cranes, etc.

1.2.2 Insurance Covers the provision by resident insurance companies of various classes of insurance services to non-residents, and vice-versa. These services include freight insurance, direct insurance (life, pensions, risk or accident, civil liability, marine and air fire, etc.), reinsurance, and insurance agent commissions.

1.2.2.1.3, 1.2.2.1.5 and 1.2.2.1.7 Premiums Payment made to a non-resident insurance company for risk prevention.

1.2.2.1.4, 1.2.2.1.6 and 1.2.2.1.8 Indemnity Receipt upon the occurrence of a previously insured risk.

1.2.3.1 and 1.2.3.2 Commissions Receipt from non-residents or payment to non-residents for commercial and other transactions, excluding commissions for financial services which must be recorded in 1.2.6.8.

1.2.4 Royalties, trademarks and patents This rubric covers receipts (exports) and payments (imports) by residents to non-residents for seismic data, authorized use of intangible non-produced financial assets and property rights, such as registered trademarks, copyrights, patents, processes, techniques, designs, manufacturing rights, concessions, and usage agreements for originals or prototypes produced, such as manuscripts, films, etc.

1.2.5.3 Travel Covers goods and services, including those related to health and education acquired in an economy by non-resident travelers (including excursionists), for business purposes and personal use during their stay (less than 1 year) in that economy. This rubric does not include international passenger transport services (transport rubric). Students and persons receiving medical treatment are considered travelers regardless of stay duration, as well as expenses incurred by non-resident workers.

1.2.6 Financial Services Covers financial intermediation and services (excluding those performed by insurance companies and pension funds) conducted between residents and non-residents, including fees for intermediary services associated with letters of credit, credit lines, foreign exchange transactions, bank acceptances, financial leasing, commissions, and other charges related to securities transactions.

1.2.7 Construction Services Covers work performed on construction projects and facilities, by employees of a company located outside its economic territory over a short-term period (one year). Goods imported by the company for use in these services are included in the value of these services and not under the goods rubric.

1.2.8 Communication Services Covers two primary categories of transactions between residents and non-residents in international communications: i) telecommunications, encompassing transmission of sound, images, or other information by telephone, fax, telex, telegram, cable, etc., and ii) postal services, encompassing collection, transportation, and delivery of letters, newspapers, brochures, other printed documents, parcels, and mailbox rental services.

1.2.9 Information and IT Services Covers computerized data, service transactions associated with information between residents and non-residents, namely databases for development, stocks, online time series, data processing, customized system programming, maintenance and repair of computers and peripheral equipment, and news agency services.

1.2.10 Operating Leasing Covers leasing between residents and non-residents (excluding financial leasing) and licenses for ships, aircraft, and transport equipment such as railway cars, containers, drilling rigs, etc., without crew.

1.2.11 Maintenance and Repair Services Other construction works, where the construction company does not intend to maintain a permanent presence in the country, including repair services for construction works.

1.2.12 Processing of Goods 1.2.13 Audiovisual Services A category of personal, cultural, and recreation services involving service charges between residents and non-residents, namely film production (on film or video cassette) and music recordings including revenues and payments for rentals, fees paid to resident actors, directors, and producers, etc., for productions carried out abroad and copyrights.

1.2.14 Other Services Covers international service transactions not included in the aforementioned rubrics, namely research and development services; consulting, legal, accounting, and audit services; advertising and market research; architecture and engineering; agricultural and industrial environmental services; exploration or specialized study services; technical assistance (specialized technical knowledge provided by professionals via advisory services not included in other rubrics here) and other business services (security and investigations, personnel contracting, translation and interpretation, cleaning).

1.3 Income Covers two classes of transactions between residents and non-residents: i) employee remuneration, paid to non-resident workers (e.g., border, seasonal, or other temporary workers - with stay less than one year); ii) revenue and payments of investment income related to external financial assets and liabilities, including those related to direct investment, portfolio investment, and other investment. Profits and dividends must be recorded on the date they are paid, while reinvested profits must be recorded when due.

1.4 Transfers Covers current transfers abroad, made by emigrants (stay equal to or greater than one year); donations of goods and services, as well as contributions to institutions and international organizations.

2. Capital and Financial Transactions 2.2.3 Trade Credits Covers assets and liabilities related to the direct granting of credits by suppliers and buyers in goods and services transactions.

2.2.4.1 Financial Credits Covers financial assets created when a non-resident bank lends funds directly to the company.

2.2.5.4 Operator Accounts - The operator must report this information at 100%, i.e., its share and that of the affiliates. Inflows - Intended for recording immediate payments for external acquisitions of goods and services attributable to the block, i.e., invoicing or "billings" financed by cash-call. Outflows - Intended for recording advances or cash-calls to cover association expenses in foreign currency.

2.3 Foreign Currency Operations Conducted in Angola - Intended for recording foreign currency purchase and sale operations conducted in banks domiciled in Angola, as well as recording rates and taxes paid, and local expenses in foreign currency.

Module 3 – Balances of Foreign Assets and Liabilities This module must report information regarding balances or stocks, at the end of each quarter, of foreign assets and liabilities related to direct investment, trade and financial credits, and other external investments.

Module 4 – Additional Information This module must provide information regarding the company's assets and share capital composition as detailed in the questionnaire.

Module 5 – Export – Quantities Intended to report quantities of crude oil and natural gas exported measured in barrels, as well as the quantity of refined products exported measured in metric tons.

IV. Observations The questionnaire includes certain transactions between residents, the information for which must be provided to validate data supplied by other entities.

Annex III SUBJECT: - Appointment of "Statistical Correspondents" Article 6, paragraph 2 of Notice No. 11/12 of April 12

• Interlocutors for foreign operations statistics The designation of interlocutors qualified to answer potential questions regarding the information reported under the Statistics provided in Article 6 of Notice No. 11/12 of April 12 (Balance of Payments Statistics / Petroleum Sector) constitutes a duty for all reporting entities, namely those mentioned in Article 2 of the aforementioned Notice.

Updating the identification elements of these interlocutors, designated as "Statistical Correspondents / petroleum sector operations", is the responsibility of the reporting entities.

To comply with the above, the form referred to in Article 4 and attached to the aforementioned Notice shall be used, which may be replicated as many times as the number of correspondents the reporting entity wishes to identify with the Central Bank of Angola. This form, which may be provided in electronic format upon request, must be sent to the Central Bank of Angola by fax or to the electronic address corresponding to the number on the form itself.

Contacts with the Central Bank of Angola For any matter related to the Statistics of Operations provided in Notice No. 11/12 of April 12, contact with the Central Bank of Angola shall be directed to:

Statistics Department External Statistics Division February 4th Avenue No. 151 Luanda

Fax: Tel.: E-mail: xxxxx@bna.ao (*Form for designation of interlocutors by reporting entities)

Annex III (continued form layout) For: External Statistics Division Statistics Department Central Bank of Angola

Fax: E-mail: Tel.:

From: Fax: E-mail: Date:

SUBJECT: Designation of "Correspondent for Statistics / Petroleum Sector" Entity: .................................................................................................... Correspondent: .................................................... (substantive) .................................................... (alternate)

Name: Position: Department: Address: Phone: Fax: E-mail:

Annex II QUESTIONNAIRE FOR THE PETROLEUM SECTOR

Note: Fill in the blanks MODULE I – COMPANY IDENTIFICATION

Block or Association: Operator: Affiliate: Address: Tax Number: Phone: Fax: Electronic Address: Name of the person responsible for information:

MODULE II – TRANSACTIONS CONDUCTED WITH THE ABROAD

	COMPANY IDENTIFICATION
	0.00%
PERIOD:	INFLOWS
Information in thousands of US dollars (thousand USD)
1. CURRENT TRANSACTIONS	0.00
1.1 GOODS	0.00
1.1.1 FOB Exports	0.00
1.1.1.1 Mineral products	0.00
1.1.1.1.1 Crude Oil	0.00
1.1.1.1.2 Associated Gas	0.00
1.1.1.2 Chemical industry products / Refined	0.00
1.1.1.3 Other exported products	0.00
1.1.2 FOB Imports
1.1.2.1 Current Consumer Goods
1.1.2.2 Intermediate consumption goods (raw materials and subsidiaries)
1.1.2.3 Capital Goods (machinery and equipment)
1.2 SERVICES	0.00
1.2.1 Related to Transport	0.00
1.2.1.1 Freight contracted to foreign transporters	0.00
1.2.1.1.1 By exports	0.00
1.2.1.1.2 By imports
1.2.1.2 Chartering of foreign transport means	0.00
1.2.1.2.1 For loading exports	0.00
1.2.1.2.2 For loading imports

| 1.2.1.2 Chartering of foreign transport means | | | | | :