Heating fuel tax cut expected to take effect on Friday

Nicosia, Cyprus. A tax reduction on heating fuel is expected to take effect on Friday, Diko MP Chrysis Pantelides, deputy chairman of the House finance committee, said on Tuesday. The measure would lower prices by 5.37 cents per litre, or 6.39 cents with VAT included.

Bill heads to Thursday’s plenum

Pantelides told the Cyprus News Agency that the committee had agreed on Monday to refer the bill to Thursday’s plenary session. He said the measure would become effective immediately upon parliamentary approval.

The committee had requested immediate implementation, Pantelides said, adding that the finance minister had also expressed a willingness to proceed without waiting until November.