Taxes on income, profits and capital gains in Somalia
Somalia: Taxes on income, profits and capital gains was 13.5% 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 total taxes.
Analysis
The most recent figure for taxes on income, profits and capital gains in Somalia is 13.5%, measured in 2024. That is the highest value across all 8 years on record.
That represents a change of up 25.4% on the previous year and up 458.1% over ten years.
That places Somalia 147th out of 153 countries with data for 2024, putting it in the bottom quarter.
Taxes on income, profits and capital gains in Somalia, year by year
| Year | % of total taxes | Change |
|---|---|---|
| 2017 | 2.4% | — |
| 2018 | 4.8% | +99.1% |
| 2019 | 6.6% | +37.4% |
| 2020 | 8.9% | +34.5% |
| 2021 | 9.3% | +5.0% |
| 2022 | 9.9% | +6.2% |
| 2023 | 10.8% | +8.5% |
| 2024 | 13.5% | +25.4% |
Somalia compared with similar countries
- Somalia's 13.5% is below the median for low income countries, which is 29.5%, 46% of the median. (15 countries reporting)
- Somalia's 13.5% is below the median for Sub-Saharan Africa, which is 33.6%, 40% of the median. (35 countries reporting)
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 2010s | 4.6% | 2.4% | 6.6% | 3 |
| 2020s | 10.5% | 8.9% | 13.5% | 5 |
Countries ranked near Somalia
More public sector data for Somalia
- Democracy, annual growth rate -100 % change on previous year (1991)
- Men's universal right to vote, annual growth rate -100 % change on previous year (2012)
- Universal right to vote, annual growth rate -100 % change on previous year (2012)
- Universal right to vote in practice, annual growth rate -100 % change on previous year (1991)
- Elected parliament, annual growth rate -100 % change on previous year (1991)
- Chief executive of the government is elected, annual growth rate -100 % change on previous year (1991)
- Democracy 0 (2025)
- Chief executive of the government is elected 0 (2025)
- Elected parliament 0 (2025)
- Men's universal right to vote 0 (2025)
Frequently asked questions
- What is taxes on income, profits and capital gains in Somalia?
- Taxes on income, profits and capital gains in Somalia was 13.5% 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 13.5% in 2024.
- What is the lowest taxes on income, profits and capital gains recorded in Somalia?
- The lowest recorded value was 2.4% in 2017.
- How does Somalia rank for taxes on income, profits and capital gains?
- Somalia ranks 147th 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 458.1%. 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 total taxes). 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 total taxes which includes all compulsory, unrequited payments, in cash or in kind, made by institutional units to government units.