Govt suspends 15% VAT on electricity
ā¢ Mr Ofori-Atta
The government has suspended the implemenĀtation of the 15 per cent VAT on electricity consumption by residential customers.
According to the Ministry of Finance, the suspension had become necessary to enable the government engage key stakeĀholders particularly Organised Labour on the matter.
It said the government expected that those engageĀments would birth innovative, robust and inclusive approaches to bridging the existing fiscal gap, while bolstering economic resilience.
The Ministry of Finance had written to the Electricity CompaĀny of Ghana and the Northern Electricity Distribution CompaĀny to suspend the implementaĀtion of the programme.
In a letter dated January 1, 2024, Finance Minister, Ken Ofori-Atta, directed the ElectricĀity Company of Ghana (ECG) and the Northern Electricity Distribution Company (NEDĀCO) to implement the VAT on electricity for domestic consumĀers.
However, Organised Labour issued a statement on January 23, 2024 to kick against the impleĀmentation on VAT on electricity for residential consumers and threatened a nationwide-demonĀstration to show their displeasure about the programme.
In view of the opposition of Organised Labour to the impleĀmentation on VAT on electricity for residential consumers, the Ministry of Finance in January 30, 2024 issued a statement to acknowledge the concerns of Organised Labour.
In the Ministry of Financeās press statement, it pledged that āextensive dialogue will be held with Organised Labour and all stakeholders, including ECG and NEDCO, to exercise restraint to facilitate a constructive dialogue towards a quick resolution of the impasse.ā
It said government was committed to working with all stakeholders in order to susĀtain the gains made under the Post-Covid 19 Programme for Economic Growth and engender macroeconomic stability and inclusive growth.
Ā BY CLIFF EKUFUL & KINGSLEY ASARE
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Eeeeh NPP what do wont us to do now hmm
Noted
Hmm
Cool
Good š
Humm
Nice
Okay
Good for them
Hmm