- Market traders in Somalia protested for the second day over a five percent tax on electronic payments
- Some shops in Mogadishu’s main market were closed during the protests
- The tax is meant to fund infrastructure and security in the country
- Traders are not against the tax but want a proper system in place
- Lawmakers and residents have criticized the tax, citing lack of public services
- Finance Minister defended the VAT, saying it was based on a 1984 law and had already been passed by parliament
- Earlier in the month, tuk-tuk drivers clashed with police over proposed increase in license fees
Source: barrons.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
Latest Posts in "Somalia"
- Somalia Enforces Strict Penalties for Non-Conforming Shipments from 2025
- Somalia Hospital Directors Arrested for Opposing VAT on Healthcare Services
- 21st Amendment to Foreign Trade Regulation: Inclusion of Emerging Technologies in Export List Part I Section B
- Somalia Traders Protest IMF-Backed Sales Tax, Shutting Businesses for Second Day
- Somalia Sales Tax Reform: Direct Deductions and Compliance Measures for Businesses
