to benefit the public good. Changes in legislation and enforcement of existing laws pose some risk of reducing company profits. A new tariff schedule came into force in September that removed duties on the import of raw materials, equipment, and intermediate goods for industries and reduced tariffs on 58 categories of basic goods. Many employers prefer to reach a monetary settlement with workers when a dispute arises, rather than bring cases before the Labor Court. Transparency of Regulatory System The regulatory system has been complex, vague, and inconsistently enforced. All transfers from Angola to the.
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There is no law mandating preferential treatment to SOEs, but in practice they have access to inside information and credit. Foreign investors do not normally access credit locally, and local investors either self-finance or seek financing from non-Angolan banks and investment funds. Most banks focus their operations on such short-term commission-related activities as currency trading and trade finance. Outside of the forex plus corporate card login petroleum sector, policies to encourage "Angolanization" of the labor force discourage bringing in expatriate labor. Although not all SOEs fulfill their legal obligations, few are sanctioned. Legal fees are high, and most businesses avoid taking commercial disputes to court. How Big Tech Will Be Hit.K.s New Digital Tax. After the probationary period ends, dismissed workers have the right to appeal to a Labor Court. In the past, triple-digit inflation resulted in a high level of dollarization in the economy and banking system, with the majority of banking assets held in dollars.
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