Cyprus Mail

EU greenlights VAT cuts on electricity bills

file photo: high voltage power lines and electricity pylons near berlin
File photo

The European Commission’s VAT committee has approved the government’s proposal to cut VAT on household electricity bills, the finance ministry announced on Monday.

A statement said that the measure was approved by the VAT committee on Monday and is considered effective from November 1.

Vulnerable households will see VAT on their electricity bills fall from 19 to 5 per cent for the next six months, while for the rest it will fall to 9 per cent for the next three months.

Earlier this month, Finance Minister Constantinos Petrides said that the government had notified the EU of its intention, saying it was in line with the European Commission’s toolbox and recommendations to tackle the rise in energy prices and prevent energy poverty.


Related Posts

George Colocassides: Dealing with the cost-of-living crisis

Staff Reporter

One man’s battle to return Cyprus’ Moon rock

Jonathan Shkurko

Nicosia police investigate attempted murder at nightclub

Staff Reporter

Nicosia weekend events to welcome February

Eleni Philippou

Neither çıraks of Turkey nor Greek Cypriots

Christos Panayiotides

Management of the Cyprus economy since 2013 has only benefited the few

Les Manison