5 Minute News

Reduction of VAT for Residential Electricity

March 12, 2025

President Christodoulides announced a reduction in VAT for residential electricity from 19% to 9%. This decision is part of a broader policy aimed at lowering taxes and making energy cheaper. Additionally, the government is taking steps to exploit natural gas and improve energy efficiency. Subsidies for energy upgrades and the installation of smart meters are also planned.