Fuel duty reduced
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Fuel duty reduced
Well done to the Government
A government decision to temporarily reduce the excise tax on petrol and diesel by 7 cents per litre – which increases to 8.3 cents per litre including VAT – came in effect on Tuesday.
The measure, valid till June 1, is within efforts by the government to contain costs from the rising fuel prices sparked by the war in Ukraine.
The parliament last week followed express procedures in approving the Cabinet’s proposal, Philenews also reports.
The new bill provides for the reduction of excise duties on 95 and 98 octane gasoline and 7 cents per liter on diesel. If VAT is added, then the reduction is 8.3 cents per liter.
At the same time, excise tax on heating oil was reduced by 5.32 cents per liter – including VAT.
https://in-cyprus.philenews.com/reduced ... f-tuesday/
A government decision to temporarily reduce the excise tax on petrol and diesel by 7 cents per litre – which increases to 8.3 cents per litre including VAT – came in effect on Tuesday.
The measure, valid till June 1, is within efforts by the government to contain costs from the rising fuel prices sparked by the war in Ukraine.
The parliament last week followed express procedures in approving the Cabinet’s proposal, Philenews also reports.
The new bill provides for the reduction of excise duties on 95 and 98 octane gasoline and 7 cents per liter on diesel. If VAT is added, then the reduction is 8.3 cents per liter.
At the same time, excise tax on heating oil was reduced by 5.32 cents per liter – including VAT.
https://in-cyprus.philenews.com/reduced ... f-tuesday/
Re: Fuel duty reduced
That is obviously good news. Although there has also been a reduction in the pricing of Heating Oil as well, sadly there is no mention of a reduction in the price of Gas for heating ..
Trev..
Re: Fuel duty reduced
My local ESSO station has dropped the Eurodiesel price from €1.508 a litre to €1.428, whilst some garages are still displaying €1.50+ a litre.
Re: Fuel duty reduced
I agree that it would have been better if bulk gas had been included. Unfortunately, some people use it for purposes other than heating.
- memory man
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Re: Fuel duty reduced
Looks like you will be needing the heating oil as there is a cold windy and wet spell forecast for the next seven days or so
Trev..
Re: Fuel duty reduced
I received the latest electricity bill earlier this week for January and February and was pleasantly surprised as it was way lower than anticipated.
Re: Fuel duty reduced
Mine was lower than expected.
But it is because there is a 'Discount based on 'CERA Decision 294/2021'
So my bill was 18-80, and we do have panels on the roof
But it is because there is a 'Discount based on 'CERA Decision 294/2021'
So my bill was 18-80, and we do have panels on the roof
Trev..
Re: Fuel duty reduced
Fuel duty may well have been reduced but prices will soon be going up again!
'Petrol prices are set to rise further and there’s not much else Cyprus can do, as its taxes on fuel are already near the EU-set minimum limit, an industry source said on Wednesday'.
https://cyprus-mail.com/2022/03/10/tax- ... ic-warned/
'Petrol prices are set to rise further and there’s not much else Cyprus can do, as its taxes on fuel are already near the EU-set minimum limit, an industry source said on Wednesday'.
https://cyprus-mail.com/2022/03/10/tax- ... ic-warned/
Re: Fuel duty reduced
Pimp prices have increased from the Goverments reductions recently back around 1.41 1.44 for 95 unleaded
Re: Fuel duty reduced
At least I have not seen any panic buying like there has been reported in the UK
Trev..
Re: Fuel duty reduced
Not sure where you got that information from Trev but no panic in my area. No shortage of fuel at the moment but prices have risen rapidly. Might have to get the bike out again
Re: Fuel duty reduced
I think I am right in saying that due to the increase in Petrol prices over the last few months, the government will have been getting an increased amount of VAT.
And surely this will be so with the increases in the price of food etc
The dearer items become, then the more VAT the government get without raising the rate at all.
And surely this will be so with the increases in the price of food etc
The dearer items become, then the more VAT the government get without raising the rate at all.
Trev..
Re: Fuel duty reduced
I think the government is already well financed - just a shame that as with some other countries the funds are not put to better use.
As for the profits announced by some of the banks, utilities, etc, again they could be put back into the system to benefit their customers.
As for the profits announced by some of the banks, utilities, etc, again they could be put back into the system to benefit their customers.
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Re: Fuel duty reduced
We will need some gas very soon now and I expect it to be the dearest 'fill up' we have ever had
Trev..