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Published On: Fri, Sep 27th, 2019

PwC position on DisCos’ Tax payment incorrect, misleading -ANED

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By Etuka Sunday

The Association of Nigerian Electricity Distributors (ANED), has described as incorrect and misleading a comment attributed to Dr. Andrew Nevin, Chief Economist of PriceWaterhouse Coopers (PwC) regarding to the power Distribution Companies’ tax payments to the Federal Government.
ANED said, Dr. Nevin, at a power sector roundtable organised by Mainstream Energy Solutions Limited was quoted to have declared that no Distribution Company (DisCo) in Nigeria has paid any tax to the Federal Government since 2013 when they were privatized, because they have been “on a loss-making track” since then.
The association said, while acknowledging Dr. Nevin’s effort to highlight the challenges of the sector in his presentation, thus, fostering dialogue that is critical for the resolution of same, we hereby, unequivocally, state that this claim relating to Discos not paying FG taxes is misleading, incorrect and not supported by the facts.
The Executive Director, Research and Advocacy, ANED, Barr. Sunday Oduntan in a statement said, as a responsible corporate citizens, “all of our member DisCos take their tax obligations to the federal and state governments, as applicable, seriously. As a result, the DisCos diligently pay all necessary taxes that apply to their operations.
“These taxes include the minimum Company Income Tax (CIT), Withholding Tax (WHT) and Value Added Tax (VAT).
“We will like to encourage all parties interested in the growth and success of the Nigerian Electricity Supply Industry to constantly diligently verify their information, to avoid creating more challenges than that which already exists in the sector,” the statement said.

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