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Next Previous Do not pass the measures of the parties for accuracy HOME • INSIDER • CYPRUS • Do not pass the measures of the parties for accuracy
& nbsp & nbspTis Eleftherias Paizanou & nbsp; & nbsp;
The Government insists on its own targeted measures, rejecting the package of proposed measures of the opposition, for horizontal support of consumers, households and businesses by precision.
Yesterday, the Ministry of Finance disagreed with the draft laws of AKEL, DIKO and DIPA, which propose further reductions in fuel prices, by abolishing the imposition of VAT on excise duty on petroleum products, zeroing VAT on food, further reductions in other services. Specifically, AKEL proposes the abolition of double taxation on fuel by the end of the year, that is, to end the imposition of VAT on excise tax.
READ ALSO: & nbsp; Between 15-20 June the deposit budget
DIKO suggests the elimination of VAT from the cost of purchasing pollutants, from the cost of purchasing fuel and maintaining strategic reserves of KODAP until the end of 2022.
Moreover, DIPA proposes zero VAT for six months as food, medicine and pollutants as well as a reduction of VAT to 5% for restaurants and food services.
Bell from YPOIK
During yesterday's discussion of the draft laws in the Parliamentary Committee on Finance, on behalf of the Ministry of Finance, Nagia Symeonidou stated that the draft laws are not in line with the European acquis, emphasizing that fuel charges cannot be deducted. According to Ms. Symeonidou, the draft laws affect the fiscal policy of the state and the budget, as they do not take into account the fiscal capabilities of the state and reduce the available revenues. At the same time, he pointed out that the horizontal price reductions do not favor vulnerable consumers, pointing out that such measures are a waste of state revenues. In fact, the representative of the ministry opposed the two packages of targeted measures taken by the government, totaling almost € 300 million. According to the representative of the Ministry of Finance, in the first package of measures the cost of relief in electricity was € 45 million and € 18 million in fuel. He also said that with the further extension of the reduction of VAT and excise tax on fuel until the end of August, the budgetary cost for electricity is € 18 million and € 6 million for fuel. He said that the budgetary cost from the DIPA law proposal (zeroing VAT on food, medicine, etc.) is estimated at € 100 million per year. In addition, in relation to the DIKO law proposal, it was stated that the budget cost is estimated at around € 7 million per month, therefore by the end of the year the cost is estimated at € 49 million for the rest of 2002. AKEL bill, the Ministry of Finance did not provide estimates for the budget costs.
No derogation requested
However, the General Secretary of AKEL, Stefanos Stefanou, argued that the European acquis enables in exceptional cases the suspension of fiscal standards set by the EU. electricity bills to be reduced by up to 40%. Mr. Stefanou called on the government to comment on whether exemptions were requested from the EU, with the representative of the Ministry of Finance stating that the Republic did not request a derogation.
The Tax Department said that according to the European regulation, VAT cannot be deducted from excise tax.
The discussion of the draft laws will continue for a week, pending the data in relation to the revenues it had the state from the taxation of fuel, for the profits of the oil companies and for the loss of revenues from the supply of fuel from the occupied ones.
Criticism by parties and defense by Ch. Georgiadis
AKEL General Secretary Stefanos Stefanou accused the government of not having the will to control oligopolies and cartels in the fuel sector. “When fuel prices fall internationally, it takes a long time for them to fall in Cyprus, as if they were coming in a rowing boat,” said Christiana Erotokritou, chairwoman of the Finance Committee and DIKO MP. with her party to find solutions that will ease the pockets of consumers.
For his part, DISY MP Haris Georgiadis, ironically, said that it is gratifying that there is a & nbsp; common perception that the state has strong budgetary capabilities which it mobilizes due to the pandemic and war, emphasizing that such discussions would not take place. 10 years ago, as there were no financial possibilities.
Painkiller for a few measures
The view of Finance Minister Konstantinos Petridis that inflation is not being killed, but also that accuracy, especially in energy prices, will continue to plague households, does not seem to have changed compared to the recent past. This at least emerges from what he said yesterday, when invited to public speeches to comment on the negative – with the exception of DISY – reactions to some of what was decided on Friday, which in the majority did not fully satisfy either the parties or the social partners.
Speaking on the show Alpha Enimerosi, Mr. Petridis even agreed with the characterization of the “painkiller” given to the measures, stating, however, that the targeted measures that were decided are targeted painkillers and not universal. As he explained, most of the inflation headaches are in the vulnerable groups and in the lower income classes of the population, but noting that some horizontal measures continue. In this context, he acknowledged that the measures decided are not measures to address inflation, but to support vulnerable groups of the population, without however the minister ruling out the existence of new support for those in need, as he assessed that the situation is not expected to improve in the near future.
In particular, he did not rule out the emergence of new social needs, due to the current situation and energy prices, which he estimated will not decrease due to EU policies on fossil fuel dependence, in the context of the green transition. To this end, & nbsp; Mr. Petridis added, some of the measures announced on Friday aim at the gradual decoupling from fossil fuels, including, as he hinted, the increased sponsorships for the installation of photovoltaic systems.
Petridis's comment on the increase in pensions
In addition, you are invited to comment on the reactions caused by the addition to the measures to increase pensions, which are essentially provided for by legislation, the finance minister acknowledged that the measure is automated, but that it was the government that ensured it. According to Mr. Petridis, the specific increase, which will exceed 4%, will burden the public finances by 30 million, which are included in the package of 103 million that was announced on Friday. Asked to comment on the proposals of the opposition that were discussed yesterday & nbsp; in Parliament yesterday for accuracy (see in the next column) he stated that there was no prior consultation with YPOIK, without going into details, but spoke of a continuing escalation of populism.