Cyprus Finance Minister Constantinos Petrides introduced on Thursday a discount in gasoline tax following a Cupboard assembly, on the Presidential Palace.
“The Cupboard determined to cut back gasoline tax on the most ranges allowed by the European acquis and lengthen the interval of implementing a decreased VAT by 5% and 9% in energy consumption”, mentioned Petrides.
Petrol and oil tax might be decreased by 7 cents per litre, reaching 8.3 cents per litre (VAT included) and the heating oil tax might be decreased by 6.4 cents per litre (VAT included), he added.
This manner, Cyprus turns into the EU member state with the bottom tax charges, mentioned the Finance Minister, including that these choices require a vote on the Home of Representatives later right this moment.
Moreover, Petrides acknowledged that the fiscal value of those proposals accredited by the Cupboard are estimated at a further 40 million euros whereas there are different vitality saving programmes accessible, for households and weak teams of the inhabitants, value 150 mln euros.
The federal government has confirmed that we’ll readjust our insurance policies every time that is potential to be able to assist society, in addition to the economic system, the Minister concluded.
(CNA)