In a televised address on Saturday, President Hassan Sheikh Mohamud called on the Somali public to embrace the newly introduced 5% Value Added Tax (VAT) on electronic payments, stressing that the levy applies exclusively to licensed merchant transactions. The President assured that personal mobile money payments will remain unaffected by this tax.<\/p>\n
The VAT, a first of its kind in Somalia, is part of a broader government initiative to enhance the nation\u2019s financial autonomy. President Mohamud emphasized that the successful collection of taxes is vital for “Somalia to achieve self-sufficiency in income, which in turn will bolster the country\u2019s capacity to fund essential services, including security and public infrastructure.”<\/p>\n
“Paying taxes is a civic duty that will allow Somalia to stand on its own feet and reduce dependence on external aid,” President Mohamud said. He urged all citizens, particularly merchants, to comply with the new regulation, highlighting that the revenue generated will play a crucial role in stabilizing and developing the nation.<\/p>\n
The President also addressed concerns from various sectors of society, particularly rickshaw drivers, who have raised issues regarding licenses and penalties. He assured them that their grievances have been heard and that relevant authorities are actively working on solutions. President Mohamud appealed to the drivers to maintain peace in the capital and refrain from engaging in disruptive activities.<\/p>\n","protected":false},"excerpt":{"rendered":"
In a televised address on Saturday, President Hassan Sheikh Mohamud called on the Somali public to embrace the newly introduced 5% Value Added Tax (VAT) on electronic payments, stressing that the levy applies exclusively to licensed merchant transactions. The President assured that personal mobile money payments will remain unaffected by this tax. The VAT, a…<\/p>\n","protected":false},"author":11,"featured_media":77668,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/mustaqbalmedia.net\/en\/wp-json\/wp\/v2\/posts\/78606"}],"collection":[{"href":"https:\/\/mustaqbalmedia.net\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mustaqbalmedia.net\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mustaqbalmedia.net\/en\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/mustaqbalmedia.net\/en\/wp-json\/wp\/v2\/comments?post=78606"}],"version-history":[{"count":1,"href":"https:\/\/mustaqbalmedia.net\/en\/wp-json\/wp\/v2\/posts\/78606\/revisions"}],"predecessor-version":[{"id":78607,"href":"https:\/\/mustaqbalmedia.net\/en\/wp-json\/wp\/v2\/posts\/78606\/revisions\/78607"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mustaqbalmedia.net\/en\/wp-json\/wp\/v2\/media\/77668"}],"wp:attachment":[{"href":"https:\/\/mustaqbalmedia.net\/en\/wp-json\/wp\/v2\/media?parent=78606"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mustaqbalmedia.net\/en\/wp-json\/wp\/v2\/categories?post=78606"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mustaqbalmedia.net\/en\/wp-json\/wp\/v2\/tags?post=78606"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}