AKEL has prepared a specific legislative proposal for taxing unexpected profits of banks to enable the state to generate increased revenues, which should be allocated in a targeted manner to support households and businesses, stated Stefanos Stefanou, the General Secretary of AKEL’s Central Committee, yesterday following the unveiling of the busts of heroes Christakis Panayiotou and Christos Georgiou on Sunday in Dromolaxia.
Stefanou said, “The previous government of Nikos Anastasiades – Democratic Rally committed Cyprus to impose the so-called green taxes without any obligation, and I argue that they were not obliged because the matter is still under discussion in the European Union and no final decision has been made yet.”
He noted, “For this exact reason, for the second time, in a letter to the Minister of Finance, I request that the so-called green taxes not be imposed, considering the continuous increase in fuel prices and the general costliness affecting households and businesses. At the same time, we demand that the government reinstate measures for energy, which it has cut, and also raise the issue of reducing the Value Added Tax (VAT) on electricity from 19% to 9%,” Stefanou said.
AKEL, he mentioned, “also takes into account the fiscal capabilities of the state, which, due to costliness, has had increased revenues of approximately 2.5 billion euros over the last two years.”
He pointed out that “at the same time, we indicate to the state that it can increase its revenues by taxing unexpected profits of banks and energy companies. Profits that went into the pockets of bankers and owners of energy companies due to increased interest rates. At the same time, energy companies sell much higher than their cost the energy produced from renewable sources,” he emphasized.
Stefanou stated that “since the government, despite its promises, has not done it, AKEL has prepared a specific legislative proposal for taxing unexpected profits of banks to enable the state to generate increased revenues, which should be allocated in a targeted manner to support households and businesses.”
