NEWS Puntland almost doubles it's Q3 revenue Year-Over-Year.

[warside]

	Q3 2020	Q3 2021
Payroll tax	1,254,350	1,804,428
Taxes on goods and services	2,297,528	4,663,213
International trade tax	9,684,068	12,813,891
Administrative fees (e.g Licenses )	908,355	5,299,020
Other	3,111,064	6,204,087
Total	17,255,365	30,784,639

The MoF ramped up tax collection and enforcement which produced great results.

 

[0117]

Share the source of this document?

 

[Galmudug-State]

Good job Puntland.

 

[warside]

@0117
This is Q3 2020, I downloaded Q3 2021 yesterday but now it's pointing to 404 page, here is a copy.

 

[0117]

@0117
This is Q3 2020, I downloaded Q3 2021 yesterday but now it's pointing to 404 page, here is a copy.

I thought I'll ask as that table you shared I'm not familiar with it as not in the template they or FGS share the financial documents.

Did you make that small table?

 

[Abdalla]

What kind of licenses jumped from 900k to 5 million?

Have they been selling fishing licenses again?

 

[warside]

I thought I'll ask as that table you shared I'm not familiar with it as not in the template they or FGS share the financial documents.

Did you make that small table?

Yes, I made the table to compare.

 

[warside]

What kind of licenses jumped from 900k to 5 million?

Have they been selling fishing licenses again?

There is fishing license in both but the jump is not only because of it, in Q3 2020 fishing license was 686,946, in Q3 2021 was 1,132,499.
The other licenses they listed:
Vehicle Testing Fee, Driving License Fee, Telecommunication License fee, Airline License fee, Business license fee.
other administrative fees they listed:
vehicle Registration Fee, Court Fee, Immigration Fee, Tender Registration Fee, Passport Registration fee, Property Sales Fee, Puntland High-way Authority (PHA) Fee, Chamber of Commerce fee and other things.

 

[𐒁𐒚𐒒𐒂𐒘𐒂𐒗 𐒎𐒚𐒗𐒗𐒒]

What kind of licenses jumped from 900k to 5 million?

Have they been selling fishing licenses again?

They need to stop selling fishing licenses, they are ruining the future of our state with this mess.

 

[warside]

They need to stop selling fishing licenses, they are ruining the future of our state with this mess.

I'm not against selling licenses to Puntland companies who sell their products overseas like NEFCO, also a lot of our fishing communities need investment. in this report they mentioned that Yemenis were buying fish from the locals. However, the net-fishing method used by most local fishermen—where the fish dies before it is landed—is now seen as producing a lower quality catch than the higher-skilled method of line-fishing, and now Yemenis are taking over and a lot of them don't even pay taxes.
Puntland shouldn't give licenses to these Yemenis but Somali companies should invest in this sector and sell it to them.
But the most worrisome thing isn't these Yemenis but the Chinese that the federal government gave license to.

If Puntland is in cahoots with FGS over this deal shame on them.

 

[Manafesto]

Share the source of this document?

Wow, I see you have developed an interest in PL affairs lol.

I'm not against selling licenses to Puntland companies who sell their products overseas like NEFCO, also a lot of our fishing communities need investment. in this report they mentioned that Yemenis were buying fish from the locals. However, the net-fishing method used by most local fishermen—where the fish dies before it is landed—is now seen as producing a lower quality catch than the higher-skilled method of line-fishing, and now Yemenis are taking over and a lot of them don't even pay taxes.
Puntland shouldn't give licenses to these Yemenis but Somali companies should invest in this sector and sell it to them.
But the most worrisome thing isn't these Yemenis but the Chinese that the federal government gave license to.

If Puntland is in cahoots with FGS over this deal shame on them.

My close family owns Nefco, they are based out of Dubai and also go by Al Jubbail company, they have been in Jariif business for decades now and own many ships.

The company was founded by my Adeer Captain Ciise, Shire Xaaji Mire older brother, unfortunately these guys are professionals and are well connected to both Puntland and Somali government and they pay them more than enough.

 

[warside]

Wow, I see you have developed an interest in PL affairs lol.



My close family owns Nefco, they are based out of Dubai and also go by Al Jubbail company, they have been in Jariif business for decades now and own many ships.

The company was founded by my Adeer Captain Ciise, Shire Xaaji Mire older brother, unfortunately these guys are professionals and are well connected to both Puntland and Somali government and they pay them more than enough.

Shire was a minister years ago I remember. I don't mind selling licenses to Puntland companies, what's missing is the regulation and monitoring their activities.

 

[0117]

Wow, I see you have developed an interest in PL affairs lol.



My close family owns Nefco, they are based out of Dubai and also go by Al Jubbail company, they have been in Jariif business for decades now and own many ships.

The company was founded by my Adeer Captain Ciise, Shire Xaaji Mire older brother, unfortunately these guys are professionals and are well connected to both Puntland and Somali government and they pay them more than enough.

As it's the only federal state in Somalia that produces quarterly budget reports, I always read them.
Look forward to reading your budget in 2022

 

[Manafesto]

As it's the only federal state in Somalia that produces quarterly budget reports, I always read them.
Look forward to reading your budget in 2022

Why do I feel like you are doing all this research on PL Budget for just FKD.

Shire was a minister years ago I remember. I don't mind selling licenses to Puntland companies, what's missing is the regulation and monitoring their activities.

Yes finance minister during Gaas.

 

[0117]

Why do I feel like you are doing all this research on PL Budget for just FKD.

Yes finance minister during Gaas.

I don't do it for FKD reasons as it's my genuine interests to follow such developments across Africa and not just Somalia.

https://www.somalispot.com/threads/2nd-quarter-revenue-underperformance-in-puntland.121445/

Somaliland First Quarter Economic Performance

https://slmof.org/wp-content/uploads/2021/06/First-Quarter-Economic-Performance-Bulletin-2021-.pdf Keynotes: In the first quarter of 2021, domestic revenue collection by the Government of Somaliland was 549.4 billion SLSh—a 20% increase from the 463.8 billion SLSh collected in the same...

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https://www.somalispot.com/threads/broke-somalia.121607/