Somali Minister of Finance

When Reviewed: Article 23 of Law # Lr 2 of 1984 gives the Minister the Ability to Issue & Implement  VAT

When he Saw: The Need to extend this Law to all Business Forms, and the Parliament Approved VAT for all business form in 2024

When he considered:  The Suggestions from Deputy Minister of finance and The Director General of The Revenue

The Minister Issued the Following Regulatory Act:……

VAT is applied as a percentage of the selling price of goods or services. Businesses collect VAT on behalf of the government by adding it to the selling price…..

Value Added Tax (VAT) is a consumption tax imposed on the value added to goods and services….