Background

The ministry of finance of the state of Puntland has been established on the 23rd of August 1998 as one of the first nine decanters (Ministries) immediately established after declaration of the Puntland government, and so far it is the most effective Ministry out of the fifteen Ministries now existing in Puntland.

The Ministry of Finance.

Apart from being the most effective it is also certainly the most important Ministry of the State as it practically plays on important Role in the Economic Policy of the State.

To give you a more clear Picture, as to the role of the Ministry it is worth mentioning that 85% of the State Revenue is gotten from this Ministry through the customs and Inland Taxations.

The Mandate.

The Ministry of Finance is to regulate the Public and Private Financial Management of the State and to ensure the Healthily fluency of the State official Currency

Vision Statement.

Ministry of Finance envisage the completion of all Capacity Building Institutions of socio-economic development, promotion of all development activities and poverty Reduction, also the creation of a resource centre that will encourage and facilitate Regional Socio-economic integration.

Mission Statement.

• To obtain enough Revenue that could cover the Financial needs of the Government so as to suffice the various government Expenditure internally and Externally.
• To apply the rules and regulation of the Ministry as it is the economic backbone of the government and it's various different government organs.
• To look after economic clients internally and externally, citizens or non- citizens and continuously gain their confidence
• To Expand the economic resource of income whether Taxation Revenue or non-Taxation Revenue.

Objective Statement

• Collection of the State Government Taxes
• Controlling of the State Government Expenditure
• Safeguarding the economic Income of State's various economic producers of various agents, Ministries and organs.
• Respecting and safeguarding the approved government budget.
• Paying the expenditures of the State Government
• Providing information on the decrease and increase of the civil –servants including the security forces
• Printing the Receipts and invoices of the state Government, independent agencies and the Municipalities.

Activities:

• To increase and improve standardized legal application of government tax collection in Puntland State level.
• To up-grade the professional skill of the Ministry employees
• To coordinate and harmonize the regional activities of the Ministry giving special consideration to the revenue collection sector.
• To establish or introduce volume basic Taxation system instead of currently used unitary basic one.
• The Ministry should set-up a controlling and monitoring mechanism of Revenue collection over other Revenue collection government Ministries.

The Staff of the Ministry:-

The Staff of the Ministry is composed of 440 members scattered all over the seven Regions of Puntland State.

Bari , Karkaar, Sanaag, Nugal, Mudug, Sool, Cain.

Gender wise they are 370 males and 70 females.

The majority of these employees work in income sector, administration and the accounts sector.