Sept 14, 2023. Posted by Balkan Periscope - Hellas
The
government has decided to extend the application of the zero VAT rate on
essential goods for another six months, with Finance Minister Makis Keraynos
announcing the addition of coffee and sugar to the list of exempted products, write
the Cypriot media.
Keraynos made this announcement following the Cabinet meeting, stating that the extension was necessary as the current validity period would expire at the end of October.
"We
have decided to renew the list for another six months with a zero rate for
basic products, and we have also included two other everyday items, coffee and
sugar," remarked Keraynos.
Regarding
potential subsidies for electricity and fuel, when asked, the Finance Minister
reiterated the government's commitment to implementing targeted measures.
"The
government's policy revolves around targeted measures, which are not only more
effective but also align with the fiscal framework and fiscal discipline
required for our country's financial stability," he emphasized.
In
reference to the extension of the zero VAT rate, the Finance Minister further
added that the government is demonstrating its commitment to its citizens.
"We
are closely monitoring all developments with a great deal of seriousness and
sensitivity. Depending on how situations evolve, the government will continue
to implement measures to support those in need," he concluded.
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