The Federal Government of Somalia (FGS), through the Ministry of Finance, announced that all basic commodities are in the list of goods expected to start enjoying tax exemptions.
FGS made this decision as a solution for easing the cost of living in the country, especially for the vulnerable sectors of the society.
COVID-19 has worsened the economic hardships in the country. Consequently, the government hopes to improve the situation for Somalis through tax exemptions.
Rice and dates will attract 100% tax exemptions. Cooking oil and wheat flour are expected to enjoy 50% tax exemptions.
The exemptions, which come into effect from April 15, would cushion citizens against the likely increase in the cost of basic commodities as the holy month of Ramadhan draws nearer.
