Taxes on income, profits and capital gains in Somalia
Somalia: Taxes on income, profits and capital gains was 4.0% in 2024. ▲ Rising
Taxes on income, profits and capital gains in Somalia, 2017–2024
Source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF). Measured in % of revenue.
Analysis
In 2024, taxes on income, profits and capital gains in Somalia stood at 4.0%.
Compared with earlier readings it is up 294.4% on the previous year and up 185.4% over ten years.
Somalia ranks 148th of 153 countries on this measure, in the bottom quarter.
Taxes on income, profits and capital gains in Somalia, year by year
| Year | % of revenue | Change |
|---|---|---|
| 2017 | 1.4% | — |
| 2018 | 3.1% | +125.1% |
| 2019 | 3.4% | +8.2% |
| 2020 | 2.5% | -27.5% |
| 2021 | 4.0% | +64.7% |
| 2022 | 2.5% | -38.2% |
| 2023 | 1.0% | -59.8% |
| 2024 | 4.0% | +294.4% |
Somalia compared with similar countries
- Somalia's 4.0% is below the median for low income countries, which is 22.4%, 18% of the median. (15 countries reporting)
- Somalia's 4.0% is below the median for Sub-Saharan Africa, which is 25.5%, 16% of the median. (35 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 2.6% | 1.4% | 3.4% | 3 |
| 2020s | 2.8% | 1.0% | 4.0% | 5 |
Countries ranked near Somalia
- 145 Sudan 5.9%
- 146 Russia 4.6% compare
- 147 Afghanistan 4.5%
- 149 Belarus 3.0% compare
- 150 Saudi Arabia 2.5% compare
- 151 Iraq 2.0%
More public sector data for Somalia
- Arms imports 4.00 million SIPRI trend indicator values (2024)
- Arms imports (SIPRI trend indicator values), per capita 0.2104 SIPRI trend indicator values per person (2024)
- Arms imports (SIPRI trend indicator values), per unit of GDP 0.0003 SIPRI trend indicator values per US$ of GDP (2024)
- Arms imports (SIPRI trend indicator values), annual growth rate 0 % change on previous year (2024)
- Arms imports (SIPRI trend indicator values), gaps filled 4.00 million SIPRI trend indicator values (2024)
- Military expenditure (current USD), per capita 10.62 current USD per person (2024)
- Military expenditure (current USD), per unit of GDP 0.0169 current USD per US$ of GDP (2024)
- Military expenditure (current USD), annual growth rate 43.19 % change on previous year (2024)
- Military expenditure (current USD), gaps filled 201.85 million current USD (2024)
- Arms imports (SIPRI trend indicator values), per square kilometre 6.38 SIPRI trend indicator values per square kilometre (2023)
Frequently asked questions
- What is taxes on income, profits and capital gains in Somalia?
- Taxes on income, profits and capital gains in Somalia was 4.0% in 2024, according to Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF).
- What is the highest taxes on income, profits and capital gains recorded in Somalia?
- The highest recorded value was 4.0% in 2021.
- What is the lowest taxes on income, profits and capital gains recorded in Somalia?
- The lowest recorded value was 1.0% in 2023.
- How does Somalia rank for taxes on income, profits and capital gains?
- Somalia ranks 148th out of 153 countries with data for 2024.
- Is taxes on income, profits and capital gains rising or falling in Somalia?
- Over the last ten years it is up 185.4%. The long-run trend across the full record is rising.
- Where does this Somalia data come from?
- The figures come from Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF), published as part of Taxes on income, profits and capital gains (% of revenue). Statizoid updates them automatically from the source API.
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About this data
Taxes on income, profits, and capital gains are taxes payable on the actual or presumed incomes, profits and capital gains. This indicator is expressed as a percentage of revenue which includes all transactions that add to the amount of economic value of a unit or sector.