JUST IN: Govt officially suspends VAT on electricity

The government has officially announced the suspension of the VAT on electricity.

Accra, Wednesday, 7th February, 2024… Reference is made to the Ministry of Finance’s (MoF) letter to the Electricity Company of Ghana, Ltd (ECG) and the Northern Electricity Distribution Company (NEDCO) on the above subject dated 12th December 2023; as well as MoF’s Press Statement on the subject issued on 30th January 2024.

2. On behalf of the Government, MoF would like to inform ECG and NEDCO to suspend the implementation of the VAT directive pending further engagements with key stakeholders including Organised Labour.

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3. The Ministry expects that these engagements will birth innovative, robust, and inclusive approaches to bridging the existing fiscal gap, while bolstering economic resilience.