Daily News Briefing

In today’s episode, the finance ministry confirmed that it may reduce VAT on key goods, with reports indicating these may be slashed on items such as bread, milk and baby food.

The finance ministry confirmed news that these discussions were under way with the commerce ministry, but that even if agreed between the two parties they would need EU approval to confirm the rate cuts, as VAT is regulated by Europe.

Elsewhere, police in Cyprus have lost trace of an Israeli professor who was arrested on February 16 at Larnaca airport on suspicion of arms trafficking to Libya and China between 2015 and 2023.

Meanwhile, the government announced that a national sanctions implementation unit will be set up in Cyprus, which will cooperate with the respective department in the UK.

All this and more in the Cyprus Beat briefing brought to you by the Cyprus Mail.