Puntland to Hike Taxes on goods from Somaliland

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Puntland has reached the decision to hike taxes on goods imported from Somaliland. The ministry of finance of Puntland, a regional province in Somalia, said in circular that mainstay imported goods from Somaliland will be taxed 100 percent. The items that Puntland hiked the taxes include fuel for vehicles and jet fuels. Puntland ministry of finance further said that unnecessary stuffs including building materials and office furnishing will be taxed 200%. The circular issued by the ministry of finance was sent to Karkar, Sanaag and Sool regions and were informed to put the order into operation. The pressure on the imposition of increasing taxes on goods imported from Somaliland will be felt by its traders who import electrical materials from Berbera port. Berbera port recently made tax waiver sparked an outcry within Puntland traders where some of them decided to import their goods from Berbera port. This has caused Puntland to take knee jerk decision of hiking taxes on goods from Somaliland. It said the tax hike would come into effect immediately and all government institutions would have to take note of it.

 

 

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