Green tax is put off in Cyprus
“It would be paranoid for the government to introduce additional taxes at a time when there is inflation and an increase in fuel prices,” stated Cyprus’ Finance Minister Makis Keravnos, referring to the imposition of environmental levies during the discussion of the 2024 budget in Parliament.
He noted that the levies, following continuous studies and consultations with experts to whom the Ministry of Finance had turned, were originally scheduled for November.
“We have now postponed [the levies] to early 2024, and efforts are continuing to find ways to address the issue, despite the fact that it has been declared that compensatory measures will be taken to avoid repercussions,” he added.
Keravnos also mentioned that he is discussing the significant cost of the green transition with other finance ministers from large countries at all large events he attends.
“This is a matter that we constantly discuss, and we want to see how it can be addressed through a process that will not disrupt the path to the green transition but should not impose burdens primarily on middle-income households and small and medium-sized businesses,” said the Cypriot minister.
