NewsLocalSpokesman says extension of reduction of VAT, excise duties expected

Spokesman says extension of reduction of VAT, excise duties expected

Following a special ministerial meeting chaired by President Anastasiades on Friday, which focused on possible additional measures to tackle rising inflationist pressures in Cyprus fueled by the Russia invasion of Ukraine, government spokesman Marios Pelekanos said that, among others, the reduction of VAT on electricity from 19% to 9% for household users, but also the reduction of excise duties on fuel, set to expire in June, are expected to be extended.

The spokesman said that during the meeting measures have been discussed that have either already been taken or that will be taken mainly to help vulnerable groups, taking into consideration the suggestions of political parties and social partners.

He also said that over the coming days, more meetings will take place so that the additional measures will become more specific and will be proposed for approval to the cabinet next Friday. In reply to a relevant question, he noted that the Finance Ministry has already evaluated the situation.

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