HARGEISA— The owners of small plants have decried the president’s presidential decree in which he revoked the taxes waiver on the imported items from overseas for the union factories. The factories Union said if that the government insists the canceling of taxes waiver on raw imported items then that would lead the closure of all industries in Somaliland. Many of the investors will withdraw their investments and that will be a big shame for the country.
This was made in a press statement that the union expressed their concern over the cancellation of the taxes that has been levied against the industries. It will spark a domestic problem in Somaliland if the government sticks to its decision of revoke as far as taxes are concerned. The Union said that his predecessor apprised the former finance ministry to impose heavy taxes on items imported from overseas in comparison on items produced locally so that the previous administration encouraged local produce. The Factories Union Chairperson, Hon. Mohamed Omar pointed out that the presidential decree was not put into operational. The FU has called on the president to show a high sense of leniency on the tax waiver revoke and their appeal must be given to consideration. The industries will shut down if raw items imported from abroad are levied on heavy taxes argues the FU. They also protested on the presidential decree that the president has stated that their should tax waiver for newly established factories then that would compel the previous industries to halt operations.