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Somalia Announces Tax Exemptions On Basic Commodities

Somalia’s Ministry of Finance has announced tax exemptions on basic commodities in order to ease the cost of living for the vulnerable sectors of the society amid increasing economic hardships exacerbated by the COVID-19 pandemic.

Somalia’s Ministry of Finance has announced tax exemptions on basic commodities in order to ease the cost of living for the vulnerable sectors of the society amid increasing economic hardships exacerbated by the COVID-19 pandemic.

The ministry announced 100 percent tax exemptions for rice and dates and 50 percent tax exemptions for wheat flour and cooking oil.

The tax exemptions will take effect on 15 April and is meant to cushion citizens against an increase in prices of consumer goods ahead of the holy month of Ramadan.

Somalia has announced measures to contain the spread of the deadly COVID-19 disease which has had a negative impact on the country’s already struggling economy.

Somalia has so far recorded 60 cases of the COVID-19 pandemic, including two deaths.

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