Port Harcourt Electricity Distribution Company (PHED) will on February 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 announces that effective from February 1, VAT on bill payment from PHED customers will attract 7.5 per cent as against the hitherto five per cent. “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.

Source: Nigerian Tribune January 25, 2020 18:56 UTC