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Saturday, June 22, 2024

No new levies on electrical energy expenses – GRA clarifies

The Ghana Earnings Authority (GRA) has appear out to clarify concerns surrounding the Price Added Tax (VAT), the Ghana Education Have faith in Fund Levy (GETFund), and Nationwide Well being Insurance policy Levy (NHIL) on power and potential costs.

In a statement signed by the Assistant Commissioner of Interaction and General public Affairs, Florence Asante, GRA confident the common public that the Authority does not find to introduce any new or extra taxes on electrical power prices in this era of coronavirus pandemic.

She included that the source of energy to a dwelling of up to a maximum consumption level specified by block costs for lifeline models is however exempted from VAT, NHIL and GETFund levy.

“ECG previously charges VAT, NHIL, and GETFund levy on the source of energy in surplus of lifeline units,” the statement examine.

In accordance to the assertion, the letter which had started the dialogue surrounding the levies, “was to draw the consideration of electric power producers in individual, to the VAT system as it applies to the ability sector and to get operators to invoice the source of power to the ECG correctly.”

This was important simply because, “the ECG in excess of the a long time has experienced some troubles saying input VAT involved with the provide of energy by electrical power producers, which could have decreased the net tax payable by ECG to GRA.”

Consequently the GRA is scheduling a meeting with power producers to address the software of the VAT system to the ability sector.

In the meantime the GRA has withdrawn the letter dated May 4, 2020 on VAT, GETFund Levy and NHIL on Power and Ability prices.

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