Tax relief as State sends appeal for support from companies
Somaliland citizens will have a lesser load to carry after the government announced relief measures during this Covid-19 period.
Finance minister Dr Saad Ali Shire said all food items that are being imported to Somaliland will get tax exemption of 20 percent.
The food items which include wheat flour, cooking oil, sugar, and pasta will receive a tax exemption of 20 percent.
The Somaliland government has also set up Fund Initiative which is aimed at assisting vulnerable section of the community who have been impacted by the outbreak of Covid-19. The government has donated US Dollars 1 million to the fund.
Dr. Sa’ad said the government has also created an initiative fund which US Dollars 1 million has also been deposited to support small businesses that have suffered because of the Covid-19 pandemic.
This is an additional fund opened by the government after president Musa Bihi had Monday this week announced the launch of an account to combat the coronavirus and start both preventive and curative measures. The government placed US Dollars 3 million in the account.
The finance minister said that the government decided to exempt taxes on all equipment and medical supplies intended to the fight against Covid-19. Such items include face masks, gloves, medical thermometers, personal protective equipment.
“The government will closely monitor the prices of basic commodities, including food rations, medical supplies, fuel, and prevention kits against Covid-1,” said Dr Shire.
He said the government is welcome to local and international businessmen to donate to the funds it has set up.
“We are encouraging all citizens to donate to the Initiative Fund which has been created to support our people who are hard hit. We also appeal to banks and firms not to put pressure on their clients who have debts.”