Nicosia: Two taxes related to the green transition are still being reviewed by the pertinent Ministry, with the Cyprus Government maintaining ongoing consultations with the European Union regarding both the tax content and compensatory measures, announced Government Spokesperson Konstantinos Letymbiotis on Tuesday.
According to Cyprus News Agency, Letymbiotis, during a press briefing at the Presidential Palace, clarified that the final proposal is not scheduled to be presented to the Council of Ministers on Wednesday. Instead, it will be delivered at its subsequent meeting, pending the completion of the necessary legal review. He emphasized that the topic had been discussed during a regular meeting with the President and members of the Council of Ministers, highlighting the ongoing discussions with the European Union.
The Government Spokesperson emphasized that green taxation is an essential element of the national Recovery and Resilience Plan. He asserted that the Government is “in constant consultation with European Union” concerning the potential taxes that may be incorporated into this plan and the associated compensatory measures.
Letymbiotis reiterated the Government’s aim for the green taxation to be fiscally neutral. He noted that while taxation related to water has already been implemented, two additional taxes remain under examination by the competent Ministry in collaboration with other involved Ministries. The final proposal is slated for discussion at an upcoming Council of Ministers meeting.