Heating fuel tax cut set to take effect Friday after parliament vote
MPs are fast-tracking a bill to cut tax on heating fuel, with the measure expected to apply from Friday and trim prices by over five cents a litre.
Lawmakers are moving quickly to ease the cost of heating fuel, with a tax reduction expected to be in force by the end of the week, as reported by the Cyprus News Agency. The House finance committee agreed on Monday to send the bill to the full parliament on Thursday, and the cut would apply as soon as it is approved.
According to Diko MP Chrysis Pantelides, the deputy chairman of the committee, the finance minister backed immediate implementation rather than delaying until November. The reduction amounts to 5.37 cents per litre, or 6.39 cents once VAT is included.
“The committee decided to request it but the truth is that the finance minister expressed the will to proceed with the immediate implementation of the measure so that we don’t wait till November,” Pantelides said.
What it means for residents
Households that rely on fuel for heating stand to pay a little less per litre just as the colder months approach, though the saving is modest and depends on suppliers passing it on.
- Check your next delivery. Compare the price per litre before and after Friday to see whether the cut reaches your bill.
- Timing matters. If you can wait a few days to refill a tank, the lower rate may already apply.
- Keep receipts. They help if you need to query a supplier about whether the reduction was applied.
This text is written from the source article and is not a translation of it.
