Political parties will be confronted with a new dilemma early in 2022 when they will have to take a stand on the VAT on electricity bill which President Nicos Anastasiades has vetoed.
On December 3, opposition parties voted in a bill providing for the cut of VAT on electricity bills from 19 per cent to 9 per cent across the board for an indefinite period.
But as expected, the President vetoed it arguing the bill violated EU legislation, the separation of powers, and would also have a huge impact on the state’s finances.
The Parliament will have to decide on the referral by January 5, 2022 at the latest and after the House Finance Committee convenes first.
It seems that the majority of the opposition will reject the revision of the law and this means that the Supreme Court to which the legislation will be referred should have the final say.