News Local FinMin: Government will accept House decision on fuel tax

FinMin: Government will accept House decision on fuel tax

The government will accept any decision of the House lowering consumer tax on fuel, but continues to believe that reducing the withholding tax on interest would be a better course of action, Finance Minister Harris Georgiades told CyBC radio on Saturday.

He said that the government had proposed lowering the withholding tax on interest that is imposed only on Cypriot depositors, as this would also encourage savings. He noted that consumer tax on fuel is not high by EU standards.

Ruling Disy and opposition Diko have instead jointly proposed a reduction on the consumer tax on fuel.

Georgiades said that the disagreement with Disy, the government’s main backer, was “pleasant” — given that public finances allowed a choice —  and not unusual.

He disputed that there were more drivers than Cypriot depositors, adding that the government would not abandon its plan to lower the withholding tax and would revisit its proposal in the new year.

Disy and Diko are proposing cutting the consumer tax on petrol, diesel and heating fuel by 5 cent a litre, with the shortfall in the 2019 budget to be made up by scrapping the government’s planned reduction in the withholding tax on deposits.

 

 

Top Stories

Nicosia hosts Cyprus-Greece-Egypt Trilateral Summit

Nicosia on Wednesday is hosting the 8th Cyprus-Greece-Egypt Trilateral Summit with the leaders of the three countries set to discuss several issues of mutual...

Partly cloudy on Wednesday, possible afternoon showers

Partly cloudy on Wednesday with isolated showers and possible thunderstorms and hail - mainly inland and in the mountains. Winds will be light in the...

EU takes legal action against ‘golden passport’ schemes in Cyprus, Malta

The European Union's executive said it was launching legal action against Cyprus and Malta over their investor citizenship programmes, also known as "golden passport" schemes. The schemes...

Total of 152 new cases of covid-19 on Tuesday

The Health Ministry announced 153 new COVID-19 cases on 20 October, out of 4,410 laboratory tests, taking confirmed infections to 2, 839. The break-down of...

Stench in Kokkinotrimithia and Mammari due to farms and burned garbage

Citizens of Kokkinotrimithia and Mammari contacted philenews and complained that at the Kafkalla location some people threw a huge quantity of garbage and set...

Taste

Squash soup

Ingredients: 1 kg pumpkin, cut into small cubes, approximately 5 cups 2 medium (400g) sweet potatoes, cut into cubes, approximately 2 ½ cups 1 chopped leek, only...

Mezedes

No visit to Cyprus is complete without enjoying the traditional meal of many small dishes known as ‘meze’. This large feast, which has been a...

Prawns with fried cheese, barley shaped pasta

Put the barley shaped pasta into a small pan with salted water, bring to a boil and when tender, drain. Peal the prawns leaving...

Salmon and shrimp sheftalies

Mix all ingredients for tabbouli in a bowl and keep to one side so flavours can combine. Prepare the sheftalies: wash and soak the casing...