The government has suspended all plans to implement the 15 % Value Added Tax (VAT) on domestic electricity consumption.
In a press release issued by the Ministry of Finance on 7th February, 2024, the Electricity Company of Ghana (ECG) and Northern Electricity Distribution Company (NEDCO) were directed to suspend the implementation of the VAT as they wait to have further engagements with key stakeholders on the matter.
“On behalf of the Government, MoF would like to inform ECG and NEDCO to suspend the implementation of the VAT directive pending further engagement with key stakeholders, including Organised Labour.”
The Ministry divulged its anticipation for innovative, robust, and inclusive approaches in engagements to bridge fiscal gaps and enhance resilience.
“The Ministry expects that these engagements will birth innovative, robust, and inclusive approaches to bridging the existing fiscal gap, while bolstering economic resilience.”
Below is the release from the Ministry of Finance.
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Story by: Michelle Lartey | univers.ug.edu.gh
