Finance Ministry to Engage With Organized Labour on VAT for Residential Electricity

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The Ministry of Finance has taken note of concerns expressed by Organized Labour regarding the proposed implementation of Value Added Tax (VAT) on residential customers' electricity consumption.


In response, the Ministry announced its intentions to facilitate extensive consultations with Organized Labour and other key stakeholders in the forthcoming weeks, seeking their valuable input in the decision-making process.

In a press statement released on Tuesday, January 30, the Ministry urged restraint from Organized Labour, ECG, NEDCO, and all stakeholders, advocating for a conducive atmosphere that fosters constructive dialogue, leading to a swift and amicable resolution of the impasse.


The Ministry's response follows Organized Labour's threat of industrial action over the imposition of VAT on domestic electricity consumption. Their concerns were echoed on Wednesday, January 24, when Organized Labour decried the imposition of VAT on a certain category of electricity consumers, urging the Finance Ministry to retract the directive. 

This call was issued in line with the Trades Union Congress' (TUC) issuance of a seven-day ultimatum to the government, urging the withdrawal of the imposition of VAT on electricity consumption beyond the lifeline threshold.

Related To This: Akufo-Addo's Imposed Tax Policies Will Make The Next President Suffer - Franklin Cudjoe

Furthermore, the Ministry highlighted the significant accomplishments made in the implementation of the Post Covid-19 Programme for Economic Growth (PC-PEG), citing achievements such as surpassing growth targets, reducing inflation, bolstering fiscal and external positions, maintaining a more stable exchange rate, and decreasing the Monetary Policy Rate.

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