The outgoing Cabinet is set to approve an extension for two additional months of the state subsidy of part of the electricity consumption’s cost which expires at the end of February.
The continued electricity subsidy will be carried out through a government decision, while the continuation of the measure for reduced excise duty on fuel will be done via a bill to be approved by Parliament.
Prior to the electricity subsidy measure, the VAT on the bills of vulnerable consumers had been reduced to 5% from 19%, while for other domestic consumers the VAT was reduced to 9%.
Source: in-cyprus.philnews.com
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