Luanda - Angolan Oil minister Botelho de Vasconcelos Thursday in Luanda considered the incentive to the Angolan oil companies an achievement enabling them to perform their activity without constraints. 

 
The minister stressed the fact while speaking to the press after analysing, in speciality, National Assembly, of the draft law of Legislative Authorisation toGrant Incentives to the Angolan Oil companies.

Among the incentives, the minister mentioned the tax cut of sharing contract and production, currently fixed at 50 percent, similarly to the industry taxation, estimated at 30 percent.

 
According to the Cabinet member, another achievement is reflected in the exemption from payment of the bonus contract, which is a requirement made in relation to the sharing contracts and production after a specific contract.

 
Botelho de Vasconcelos also spoke of exemption from the obligation to share in the funding of research spending.

During the meeting the MPs of the concerned commissions also approved the Draft Law  that approves the Tax General Code, Resolution Project approving the proposal on alteration of  International Monetary Fund (IMF) statutes, as well as the Draft resolution approving the reviewed Cotonou  agreement charter.

The document has already been analysed by the ministers of Finance, Carlos Alberto Lopes, Oil, Botelho de Vasconcelos, Planning, Ana Dias Lourenço, and Justice, Guilhermina Prata.