Angola: new Special Contribution on Banking Operations
The 2016 State General Budget created a Special Contribution on Banking Operations. These operations will de taxed at 0,10%. The legislator considers that banking operations are all acts of economic nature performed by banking and non-banking financial institutions for intermediation in repayable funds collection, credit granting and service provision on securities or derivatives, payment, securities custody and exchange, and other operations. It excludes wages payment, as well as those payments exclusively personal and similar.


New rules for investment advice and financial analysis
Capital Market Commission defined the applicable rules to registration, codes of conduct and ways to develop the activities of investment advice and financial analysis
Angola exchanges financial information with USA
Angola and the USA have signed a bilateral agreement in the ambit of the Foreign Account Tax Compliance Act (FACTA), which combats tax evasion of the North American taxable persons who hold financial assets from financial institutions located out of that territory
Share capital for non-banking entities connected to capital market
Capital Market Commission set the minimum limit for non-banking financial institutions connected to capital market and investment


Incentive Programme to the petroleum and gas sector
A recently published diploma introduces the Incentive Programme to Competition in the Production Chain, to Development and to the Improvement of Suppliers of the Petroleum and Natural Gas Sector (Pedefor)
Development, scientific research and innovation with new incentives
Government approves new incentive measures to innovation and to the scientific and technological research in the productive environment, aiming at the technological  capacity within the reach of technological autonomy and development of the national and regional productive system of the country


Fees due by offshore financing branches and subsidiaries
Government defines the biannual fees to be paid during the first six months of 2016 by branch and by subsidiary of "offshore" financial institutions operating in the Macao 
Inflation in 2015 was fixed in 4,56%
According to official data recently released, the inflation rate in Macau in 2015 was 4,56%, the lowest since 2010


Taxation and tax benefits of petroleum operations
Procedures defined for the application of the specific regime of taxation and tax benefits of petroleum operations, which established that developers of petroleum activities have to pay IPP and Corporate Income Tax (IRPC). Read More
Mozambique limits payments with international credit card
Payments made to foreign countries by means of an international credit card are being limited as of 1st January 2016, and to the equivalent to 700.000,00 MT per year Read More
Rules on driving and rest for professional drivers
As off March, the new regime setting the standards on periods of driving and rest for professional drivers enters into force, as well as mandatory use of tachograph in passenger or loads public transportation Read More


EU: employers can access workers communications
The European Court of Human Rights decided that companies can monitor communications of their employees for disciplinary purposes and these communications can be used as evidence for their dismissal
Minimum National Wage updated
The value of the Minimum Guaranteed Monthly Wage (RMMG) to enter in force in 2016 is fixed in 530 Euros. This does not include allowance, bonus or other benefit for accidental assignment or for a period of more than one month
Default interest rate for State debts in 2016
The default interest rate for State debts and other public entities, including Social Security and Tax Authority was published, and in 2016, is set at 5.168%, lower that the 2015 rate 

East Timor

EU approves visa exemption for Timorese
European citizens will not need visa to enter East-Timor, nor East-Timor nationals with passport shall need visa for short stays in Schengen area - up to 90 days in a 180 days period - for business, tourism or family visits
East Timor approves decentralization
The Council of Ministers approved a diploma on the  Statutes of Local Administrations, of Local Authorities and of the Interministerial Technical Group for the Administrative Decentralization, and a diploma on the Statutes of the Local Authorities' Presidents and Local Administrators

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