[2019-04-03] Mozambican government wants to improve the business environment with tax amnesty

Source: Macauhub

The government-approved tax amnesty will bring taxpayers closer to the tax system and allow for the improvement of the business environment, the Mozambican economy and finance minister said in Maputo.

Adriano Maleiane, following a parliamentary hearing, recalled that the tax amnesty covers only the portion related to fines, interest and other feed, with the original tax debt still being paid in full.

The proposal for a tax amnesty law for companies with State debts from between 2011 and 2018 was approved by the Council of Ministers last March and is now under consideration in parliament.

Under the proposal, the Mozambican tax authorities expect to pardon fines and interest amounting to more than 23.6 billion meticais (US$363.5 million), according to the proposal under consideration by the Committee on Constitutional Affairs, Human Rights and of Legality.

Maleiane, quoted in the local press, pointed out that, after approval of the bill by the country’s parliament, beneficiaries will have a maximum period of one year to pay off their debts, and if they do not follow this procedure will lose the right to the tax benefit.