Angola seizes US$267,300 for notice violation of currency entry and exit 

By Adnardo Barros

Angola seized about US$267,300 for violation of Notice No. 6/22, which defines the limits of currency exit, applicable to individuals, residents, and non-residents currency, crossing the border of the country, as well as the situations that require completion of declaration form of currency entry into the national territory.

The information was released this Tuesday, March 07, 2023, during the 2nd edition of the Customs Forum, held under the slogan “A Customs Closer to the Taxpayer”, organized by the General Tax Administration (AGT).

According to the AGT technician, Jeovany Costa, from January 2022 to January 2023, besides the US$267,300, €49,400 and Kz107,800 were seized.

In the same period, US$193,900 and €45,200 were also declared.

In his intervention, Ildo Lupassa, another AGT technician, appealed to individuals, residents, and non-residents for exchange to “pay close attention to the exchange market’s laws and regulations and the values they carry with them” under the penalty of frustrating their activities.

The Diploma that came into effect on April 3, 2022, contemplates that the entry of the total amount equal to or greater than the equivalent of US$10,000  by resident and non-resident individuals requires completing a form.

Regarding outflows, the National Bank of Angola (BNA) establishes that foreign exchange resident individuals may carry a total amount equivalent to US$10,000.

Foreign exchange residents under 18 years of age who are not traveling accompanied may carry national or foreign currency, up to the total amount equivalent to US$ 1,000, when leaving the country.

It should also be noted that non-exchange resident individuals who carry foreign currency when leaving the country, in an amount equal to the currency with which they entered the country [US$10,000] must prove the entry of that amount by submitting a copy of the declaration of entry of currency to customs.

With information from Forbes