News

Ministry of Finance Suspends the Implementation of 15% VAT on Electricity

Ministry of Finance announces the suspension of the implementation of 15% VAT on domestic consumption of electricity, pending further engagement with stakeholders.

MINISTRY OF FINANCE PRESS RELEASE ON THE IMPLEMENTATION OF VAT ON ELECTRICITY CONSUMPTION BY RESIDENTIAL CUSTOMERS

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.

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.

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

ISSUED BY THE PUBLIC RELATIONS UNIT
MINISTRY OF FINANCE