Deeq A. Posted January 3, 2018 Somaliland has the lowest VAT charges alongside the UAE of 5% indirect tax, however since the implementation of Somaliland VAT there has not been classified the taxable supposes and not been categorised different rates. VAT could give rise to the biggest tax fraud if the system is loose. The new administration of Somaliland government should now act fast and develop the VAT system which can increase the revenue dramatically. Also many countries those successfully implanted the VAT system like Ethiopia, sidan and Morocco in the African regioncould support Somaliland to learn from them. UAE also is one of the advanced country in the world in terms of governments system. The new year night I was among the first people charged the VAT on Dubai and the system implanted is very safisticated and ready to overcome any political. I trust the new Somaliland Minster if finance has the capability to work improving the finance system including the VAT system Share this post Link to post Share on other sites
