In Mogadishu, the Ministry of Finance hosted a special event to recognize and reward members of the business community and traders who have complied with the newly launched tax regulations.
Finance ministry officials specifically focused on traders doing well in the implementation of Value Added Tax (VAT) on digital and wallet transactions.
The federal government launched the new regulations late last month to mixed reactions.
This event is part of the government’s broader efforts to enhance tax compliance and boost domestic revenue, which has become increasingly vital for the country’s economic stability and development.
The recognition of these compliant businesses is aimed at encouraging wider adherence to the new tax policies across various sectors.