Discos to reflect 7.5% VAT on transactions Feb 1

Discos to reflect 7.5% VAT on transactions Feb 1



There are indications that power distribution firms across the country plan to reflect the new Value Added Tax of 7.5 per cent on all their transactions from February 1, as announced by the Federal Government.
Already, Ibadan Electricity Distribution Company confirmed this on Monday, saying it would implement an upward review in the prices of meters sold to customers under the Meter Asset provider scheme introduced in 2019.
Head, Branding and Corporate Communication at IBEDC, Mrs Angela Olarenwaju, made the disclosure in a statement made available to our correspondent on Monday.
Olarewaju said that the managements decision on the review was necessitated…



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