Port Harcourt Disco begins 7.5% VAT Feb. 1
Port Harcourt Electricity Distribution Company (PHED) will on Feb. 1 begin the implementation of 7.5 per cent Value Added Tax (VAT) to customers in four states.
PHED Manager, Corporate Communications of the company, John Onyi, confirmed this in a statement issued in Port Harcourt on Saturday.
“PHED announce that effective from Feb. 1, VAT on bill payment from PHED customers will attract 7.5 per cent as against the hitherto five per cent.
“The 2.5 increase in VAT is coming on the heels of recent approval by the Federal Government through the Ministry of Finance as captured in 2020 fiscal year,” he said.
Onyi said the 2.5 per cent increase in VAT would result to increase in billing of electricity to customers.
“The marginal increase in VAT will not only affect the billing system but other operations that attract VAT, such as, meter purchase by customers, among others.
“To this end, PHED in compliance with the directive will effect the increase in VAT from February 1,” he pointed out.
The spokesman called on customers in the four coverage states to ensure prompt payment of their electricity to enable the company provide improved supply.
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