Bloomberg News

Angola Aims to Boost Minerals Exploration With Tax-Cutting Law

July 19, 2011

July 19 (Bloomberg) -- Angolan lawmakers approved a new law that will cut taxes on mining to help boost exploration for minerals and reduce the country’s dependence on oil, said Joaquim David, the mines minister.

The tax will decline to 25 percent from 30 percent, David said today in parliament, in the capital, Luanda.

“The law offers better guarantees, better protection for investors,” he said.

To contact the reporter on this story: Candido Mendes in Luanda at cmendes6@bloomberg.net

To contact the editor responsible for this story: Gordon Bell at gbell16@bloomberg.net


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