GOVERNMENT REITERATES ITS COMMITMENT TO REDUCING VAT ON ELECTRICITY AND BROADBAND SERVICES

A reduction on the VAT on electricity consumption from 15% to 7.5% for all consumers is to take effect on February 1, 2023.

At the presentation of the budget early last month Prime Minister who’s also the Finance Minister, Hon. Dickon Mitchell, spoke of the changes to go into effect next month.

Earlier this week Prime Minister Mitchell, while holding discussions with the media, reiterated the governments’ commitment to reducing VAT on electricity.

The Finance Minister also noted that there’ll be a reduction in the area of broadband services, in keeping with the Government’s policy to build a digital economy.