EKEDC To Commence New VAT Rate on Meters From February 1
Posted on January 29, 2020
Eko Electricity Distribution Company has announced that from February 1, the prices of meters sold to customers under the Meter Asset Provider scheme will be reviewed to reflect the increase in Value Added Tax recently implemented by the Federal Government.
This was disclosed in a statement signed by the EKEDC Corporate Communications General Manager, Godwin Idemudia on January 27.
Idemudia stated this was in compliance with the 2019 Federal Government directive which would see an increase in value added taxes from 5 per cent to 7.5 per cent from the first day of February 2020.
He further stated that customers should now expect to pay “39,765.86 (VAT inclusive) for a single-phase meter and 72,085.68 (VAT inclusive) for a three-phase meter”.
The statement also disclosed that VAT on tariffs have been adjusted to accommodate the new 7.5 per cent rate, and service charges on installmental meter payments through MAP will be reviewed to accommodate the new VAT charge.
Idemudia used the opportunity to appreciate customers for what he described as their “unwavering support” and urged them to always pay bills on time, as these are the major source of funding for several projects underway to improve service delivery in their operational network.
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