News Local MPs approve lower consumer tax on fuel

MPs approve lower consumer tax on fuel

In a welcome move for consumers, the House of Representatives voted unanimously on Wednesday to lower consumer tax on fuel by five cent a litre, effective from December 18.

The vote follows a bill submitted by DISY and DIKO proposing cutting the consumer tax on petrol, diesel and heating fuel by 5 cents a litre.  For consumers, this means paying nearly 6 cents less per litre because of savings on VAT.

The House decision will be published in the official gazette after which the Trade Minister will issue a decree. Meanwhile, customs will take stock of fuel reserves at petrol stations.

The decision will mean a shortfall of  €57.5 m in state revenue, of which €48.4 m from the lower consumer tax and the rest from VAT.

The shortfall in  state revenue is expected to be made up by scrapping a government plan to lower the withholding tax on deposits.

Read more

https://in-cyprus.com/news/local/finmin-government-will-accept-house-decision-on-fuel-tax/

 

 

 

 

 

 

Top Stories

Russia’s Lavrov in Athens to discuss Eastern Mediterranean regional issues

Russian Foreign Affairs Minister Sergei Lavrov on Monday is paying a working visit to Athens, Greece, with special attention to be paid to the...

Police hand out 81 fines over covid-19 measures violation

Police booked 78 individuals and three establishments all across Cyprus over the past 24 hours for violation of measures to contain the spread of...

Mainly fine on Monday, dust in the air

Mainly fine on Monday with variable light to moderate winds, force two to three Beaufort. The sea will be smooth to slight. Temperatures will rise to...

UK special forces storm tanker and detain stowaways in Channel

British special forces stormed a Greek-operated oil tanker in the English channel on Sunday to wrestle control of the vessel from seven stowaways who...

Family of dead man after gastric bypass surgery shout medical neglect

A 36-year-old obese man died days only after undergoing a gastric bypass surgery in a private clinic in Limassol in mid-October and his family is shouting...

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...