Finance Minister demands amendment Domestic Revenue Act No. 72/2016 and the Public Financial Management Act

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Somaliland Minister of Finance Dr. Sa’ad Ali Shire, who addressed the House of Representatives, has submitted a bill seeking to amend the General Revenue Act and the Public Financial Management Act. As he mentioned in a speech to the members of the House of Representatives of Somaliland, reasons for the Change are as follows:

  1. Errors and omissions,
  2. Incompleteness and Drafts, especially in the sides of the accountability, transparency, and transparency of financial management and revenue collection of the Government.

Benefits of Amending These Rules:

  1. Promoting accountability, transparency, and transparency in the management of public finances and revenue.
  2. It shall enable the House of Representatives to carry out its duties, supervision and accountability in a comprehensive manner, and shall provide the House of Representatives with a comprehensive report on the management and misappropriation of public funds;
  3. Increasing the executive powers and accountability of the Public Revenue Authority.
  4. The establishment of internal audits by all the MDAs (Ministries, Departments and Agencies) of the country.
  5.  Strengthen the role of the public in the preparation of the budget.
  6. Creating a Treasury Single Account.

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