Trying to Hold Down Soaring Energy Prices, Cyprus Cuts Fuel Tax

NICOSIA – With energy costs skyrocketing – even more over Russia’s invasion of Ukraine – Cyprus Finance Minister Constantinos Petrides said the government has decided to cut the 14 percent Value Added Tax (VAT)  to 9 percent.

That’s the maximum reduction allowed under European Union law and will be extended to hold cost costs for power consumption and oil and gasoline that are necessities for people.

The tax on petrol and oil will be reduced by 7 euro cents per liter, dropping to 8.3 cents per liter and for heating oil it will drop 6.4 euro centers per liter, including VAT in both cases, giving Cyprus the lowest rate in the EU.

Petrides said that will save houeholds an estimated 40 million euros ($43.75 million)  and said there are other energy-saving programs available for households and vulnerable groups worth 150 million euros ($164.05 million.)



NICOSIA - The lingering COVID-19 pandemic all but forgotten as health measure restrictions were being rapidly eased, Cyprus’ opening to tourists again could bring more than 2 million this year, said Deputy Tourism Minister Savvas Perdios.

Top Stories

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

General News

PHILADELPHIA – The Federation of Hellenic Societies of Philadelphia and Greater Delaware Valley announced that the Evzones, the Presidential Guard of Greece will be participating in the Philadelphia Greek Independence Day Parade on March 20.


Prime Minister Kyriakos Mitsotakis Speaks, Is Honored at Boston College Graduation

BOSTON – Prime Minister of Greece Kyriakos Mitsotakis was the keynote speaker at the 146th commencement ceremony of Boston College, where he was awarded an honorary doctorate.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.