Somali government is to harmonize the revenue and other taxes across the country for the first time since 1990s, Finance Ministry said Sunday.
Since the collapse of Somalia’s central government in 1990s, all the government financial institutions descended leading to dysfunctional revenue departments.
Somali Finance Minister, Abdirahman Duale Beileh has expressed hope over the process to unify the tax collection across the nation.
He pointed out that his ministry convened officials from regional state finance ministries to hold discussions on means to harmonize the revenue and financial systems across Somalia.
Beileh said the leaders also talked about the challenges and factors that influence the unification of the tax.
“We are hopeful (over the tax harmonization), there are ongoing discussions within the finance ministry on the unification of the tax revenues. Currently there is no obstacles, the leaders acknowledged the need for harmonized tax,” said Beileh.
Beileh noted that the harmonization of tax would improve the economy of the country.
The minister confirmed that the billions of Somalia’s debt will be remitted as from next year.
“We have fulfilled the first and second conditions by IMF. In May 2019, we expect Somalia’s remission to take place,” he said.
Beileh said 7th of next month Somalia would be holding discussions with IMF officials on the ongoing process of printing new currency for Somalia
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