Reuters AlertNet - Angola hopes tax break will make housing affordable
Reuters AlertNet - Angola hopes tax break will make housing affordable 30 Jul 2009 10:06:59 GMT 30 Jul 2009 10:06:59 GMT ## for search indexer, do not remove --> Source: Reuters * Angola to lift duties on building materials for the poor * Wants to make housing more affordable * About five million people live in slums in Luanda By Henrique Almeida LUANDA, July 30 (Reuters) - Angola will exempt some imported building materials from taxes in a bid to make housing more affordable for the poor, the government announced on Thursday, following an unprecedented protest over housing in Luanda. The south-western African nation faces a housing shortage as it recovers from a three decade long civil war that devastated the countryside and prompted millions to flee to the cities. With Angola importing over 90 percent of building materials from abroad, construction projects are expensive and often come with big delays. For the capital Luanda, the result is sprawling slums that ring the seaside cit...