President Christodoulides Announces VAT Reduction on Residential Electricity
March 13, 2025
President Christodoulides announced a reduction of VAT on residential electricity from 19% to 9%, attributing this decision to Cyprus's strong economy. In his televised address, he presented 70 actions across 11 sectors, including the Cyprus issue. He emphasized the importance of addressing long-standing issues in the country. The VAT reduction will take effect from April 2025 and will last for one year.