Mogadishu, Somalia – The major Boocle market in the Banaadir region has been completely shut down today after the Somali government imposed new orders and penalties regarding the implementation of the 5% VAT tax system.
The vat tax, which is a five percent tax on goods sold by traders, was reportedly not being applied properly by the businesses.
The market has come to a standstill, with traders filling the district’s main office after being detained while carrying out their business activities. They were accused of not using the proper methods for sending tax payments, as the government withdraws funds directly from traders’ accounts.
One of the traders from Boocle Market spoke to Shabelle Media, giving insight into the situation and explaining the challenges traders are facing.
Meanwhile, the local administration of Dharkeenley, where the market is located, has yet to respond to inquiries about the market’s situation.
This incident comes at a time when many of the largest markets in Mogadishu had been struggling to operate, as traders have faced heavy taxes and other orders imposed by the government.
