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Puntland to tax resources exploration and extraction

Garoowe March 11, 2023 (SD) – The President of Puntland, Said Abdullahi Deni, issued a Presidential Decree on the Implementation of Licensing Fees and Provisional Taxes on Mineral Resources.

The president said in his decree that the Ministry of Energy, Minerals and Water is responsible for issuing licenses for trading and exporting these resources.

These licenses are mandatory for anyone who trades in mineral resources. It has also been temporarily determined the tax due on all minerals exported from Ports, Airports, and other borders of Puntland.

The Decree instructed the Ministry of Energy, Minerals and Water to prepare within a short period the draft Laws and Policies for the exploration and extraction of Mineral Resources. The decree will be implemented temporarily, while the draft laws and Policies are being prepared.

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