06 Nov, 2021 Goods and Services Tax (GST) and the Role of Printing Companies.

Hargeisa 06 Nov, 2021 (WHM)-The Ministry of Finance of the Republic of Somaliland has convened a meeting with printing companies, especially those with offices in Hargeisa. The purpose of the meeting was to focus on the Goods and Services Tax (GST) particularly the sales made by the hotels and factories and the role of Printing Companies and instructed in the meeting to show the tax rate (5%) of the sales on books (invoices) demanded by hotel and industry owners/managers which are currently the focus of the Ministry of Finance.
The Ministry of Finance on the basis of the implementation and enforcement of the directives of the General Revenue Act No. 72/2016, especially Articles 164, 165, 169, 171, 172 & 173, requires hotel managers and owners to include 5% in to their sales system (invoices) for which they charge to their customers.
According to the General Tax Law of R. of Somaliland, in particular the provisions of the above mentioned articles all the sales made by hotels such as: food, drink, accommodation, and various events is subject to a tax of 5% by collecting that revenue on behalf of the Government. Therefore, all hoteliers and their customers are required to comply with the taxes required by law.

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