Ministry of Finance holds consultative meeting with publishing companies

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The Ministry of Finance has held a consultative meeting with publishing service providers in Hargeisa, with the aim to include the 5% GST in the printed invoices as required by law.

The meeting was attended by Director General of Finance Mohamed Abdi Gurhan and Deputy Minister of Finance Ms. Reda Jama Elmi, ministry directors and owners of publishing companies were discussed the implementation of the GST tax.

Director General of Finance Mr Gurhan said they want all printing companies add GST box every invoice required to produce.

The owners of the printing companies who spoke at the meeting pledged to implement the directives of the Ministry of Finance, as revenue law dictates.

Deputy Minister of Finance, Ms. Reda Jama Elmi, pointed out that as a country, GST taken is very low compared to the rest of the world, due to public interest, and urged printing companies to implement.

Ministry of Finance on the basis of the implementation and enforcement of the directives of the General Revenue Act No Lr. 72/2016, especially Articles 164, 165, 169, 171, 172 & 173, requires hotel management and owners to include 5% invoices for their customers.

According to the General Tax Law of the Rep of Somaliland, in particular the provisions of the above mentioned all the sales of hotels such as: food, drink, accommodation, and various events are subject to a tax of 5% which is carried out on behalf of the Government the hotel management is responsible. Therefore, all hoteliers and their customers are again required to comply with the taxes required by law.

 

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