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No Agreement to Withdraw VAT Exemption on Electricity: Finance Minister’s Secretariat

The secretariat of Finance Minister Swarnim Wagle has clarified that there has been no principled agreement to withdraw the VAT exemption on electricity tariffs.

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No Agreement to Withdraw VAT Exemption on Electricity: Finance Minister’s Secretariat

The secretariat of Finance Minister Swarnim Wagle has clarified that the minister has not agreed to withdraw the Value Added Tax (VAT) exemption on electricity tariffs. Issuing a press statement on Friday, the secretariat said it had taken serious note of reports and publicity claiming that the Finance Minister had agreed to remove the VAT exemption. It clarified that, contrary to such reports, the minister did not hold any meeting or discussion on the issue on Sunday evening or during the previous week. According to the statement, the government is proceeding with the electricity VAT issue in line with the position previously presented by the Finance Minister in the House of Representatives and the National Assembly. The ministry and its subordinate agencies are also conducting necessary studies and discussions to facilitate the matter and explore measures to provide relief to electricity consumers, the statement added.

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