logoBC
Yaoundé - 04 August 2020 -
Companies

Eneo announces compensations over delay in VAT suppression on electricity bills

Eneo announces compensations over delay in VAT suppression on electricity bills
  • Comments   -   Friday, 17 May 2019 11:04

(Business in Cameroon) - Cameroon’s power utility Eneo wants to make up for delay in VAT suppression on electricity bills. 80% of its 1.2 million customers should have seen their electricity bills fall since January 2019 as provided for in the 2019 Finance Act.

Monthly consumption between 0 and 220 KW will now be Value Added Tax-free (VAT= 19.25%). But the measure is still not yet implemented because Eneo is 1 to 2 months behind schedule, sources said. “The provision of the 2019 Finance Act broadening the VAT exemption bracket in the electricity tariff grid in Cameroon remains applicable. Its effective entry into force depends on a review of Eneo Cameroon's business management system. This technical update is still in progress,” the company explained to its customers in February and March 2019.

To make up for this delay, the power company announces it is putting in place a compensation mechanism once the business management system is updated. “It targets both customers normally benefiting from the exemption and those whose new calculation methods increase the final amount of bills,” Eneo said.

According to reliable sources, the update of the billing system is completed and reached first beneficiaries in the March 2019 bills distributed in April. All other affected customers are expected to see the tax relief in April's bills that will be distributed this month.

Brice R. Mbodiam

cameroon-cocoa-prices-drop-below-xaf1-000-for-the-first-time-since-q1-2019
Since late July 2020, the average coca prices per kilogram in production areas in Cameroon has dropped below XAF1,000. According to système d’information...
cameroon-exported-about-158-000-tons-of-lng-in-jan-may-2020-the-snh-informs
From January 1 to May 31, 2020, Cameroon shipped seven loads of liquefied natural gas, according to the National Hydrocarbons Corporation (SNH)....
coleps-2nd-phase-delayed-by-covid-19-health-crisis-not-by-a-misunderstanding-of-internal-procedures-korean-embassy-reveals
On July 23, the Korean embassy in Cameroon reacted to the information provided by the Ministry of Economy, and relayed by Business in Cameroon on July 17,...
compulsory-taxpayer-identification-number-cameroon-extends-deadline-by-an-additional-4-months
The Minister of Finance has once again extended the deadline for individuals and companies to get a Taxpayer Identification Number (TIN). This deadline...

Mags frontpage


Business in Cameroon n90: June 2020

Top 100 economic actors in Cameroon


Colonel Roger Kuitche: “Military strategy is an important tool that will beneft businesses and public administrations”


Investir au Cameroun n100 Juillet-Août 2020

Le Top 100 des acteurs économiques du Camerouns


Colonel Roger Kuitche : « la stratégie militaire appliquée aux entreprises et aux administrations est un outil à exploiter »