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SO Tax 2024

Somalia Tax Tables 2024 - Tax Rates and Thresholds in Somalia

This page contains the tax table information used for the calculation of tax and payroll deductions in Somalia in 2024. These tax tables are used for the tax and payroll calculators published on iCalculator™ SO, these tools are provided for your free use on our website. If you would like additional tax table information added to the tax calculators for Somalia or would like to add to or suggest amendments to the information herein then please contact us.

Somalia Personal Income Tax Tables in 2024

The Income tax rates and personal allowances in Somalia are updated annually with new tax tables published for Resident and Non-resident taxpayers. The Tax tables below include the tax rates, thresholds and allowances included in the Somalia Tax Calculator 2024.

Somalia Residents Income Tax Tables in 2024
Personal Income Tax Rates and Thresholds (Annual)
Tax RateTaxable Income Threshold
0%Income from $ 0.000.00to $ 2,400.00
6%Income from $ 2,400.01 to $ 9,600.00
12%Income from $ 9,600.01 to $ 18,000.00
18%Income from $ 18,000.01 and above
Somalia Non-residents Income Tax Tables in 2024
Personal Income Tax Rates and Thresholds (Annual)
Tax RateTaxable Income Threshold
0%Income from $ 0.000.00to $ 2,400.00
6%Income from $ 2,400.01 to $ 9,600.00
12%Income from $ 9,600.01 to $ 18,000.00
18%Income from $ 18,000.01 and above

Somalia Social Security and Payroll Deduction Rates in 2024

In Somalia, the establishment of a formal social security system is part of the country's long-term development goals. Given the current rebuilding phase, the focus is on laying down the foundation for such a system that would include contributions from both employees and employers to fund various benefits. These efforts are geared towards providing social protection for the workforce and their families, fostering social cohesion, and contributing to economic stability.

Somalia Social Security in 2024: Rates for Employers and Employees
CategoryEmployeeEmployerTotal
Social Security0%7%7%
Christmas Bonus0%2.74%2.74%
Severance per Year0%0.69%0.69%
Termination Notice0%11.53%11.53%
Somalia Social Security and Payroll Deduction in 2024: Earnings Thresholds for Employers and Employees
CategoryEmployeeEmployer
Min.Max.Min.Max.
Social Securityn/an/an/an/a
Christmas Bonusn/an/an/an/a
Severance per Yearn/an/an/an/a
Termination Noticen/an/an/an/a

Proposed Social Security Contributions

Social security contributions in Somalia are envisioned to fund a range of benefits, including retirement pensions, health care, unemployment benefits, and support in case of work-related injuries or disabilities. Both employers and employees are expected to contribute to this system, with rates and structures designed to ensure sustainability and adequate coverage for beneficiaries.

Retirement Pensions

Retirement pension contributions aim to provide a stable income for individuals upon retirement, ensuring they can maintain a decent standard of living. This is particularly important in supporting the elderly population, who may no longer be able to rely on income from work.

Health Care Benefits

Contributions towards health care are intended to fund medical services for employees and their dependents. This includes preventive care, treatment of illnesses, and access to hospitals and clinics, contributing to the overall health and well-being of the workforce.

Unemployment Benefits

Unemployment benefits, funded through social security contributions, would provide temporary financial support to individuals who are actively seeking employment but are unable to find work. This safety net is crucial for maintaining living standards during periods of joblessness.

Work-Related Injury and Disability Benefits

Contributions also aim to cover benefits for employees who suffer from work-related injuries or disabilities, providing them with compensation and support for rehabilitation. This aspect of social security is essential for protecting workers and their families from the financial impacts of work-related accidents and illnesses.

As Somalia continues to rebuild, the development of a comprehensive social security system remains a priority. The implementation of such a system will require collaboration between the government, the private sector, and international partners. While challenges exist, the establishment of social security and payroll deductions is a critical step towards ensuring economic stability and social protection for all Somalis.

Somalia VAT Rates in 2024

VAT rates for Somalia are reviewed annually, you can use the VAT Calculator to calculate VAT due in Somalia or use the Reverse VAT Calculator to calculate the net cost of goods/services after deducting VAT.

Somalia VAT Rates
VAT RateVAT Description
0%Zero Rated
5%Standard Rate

Historic Tax Tables supported for Somalia

The following tax tables are supported by iCalculator™ SO as part of the suite of free tax tools we provide for Somalia.