As of today, Value Added Tax rises from 10% to 13%, pushing up the price of fuel. Leaded Super Petrol will rise to 46,8 cents per litre, Unleaded Super Petrol 98 Oct. to 46,8 cents, Diesel to 19,3 cents and lighting fuel to 19,3 cents per litre. The increase on VAT is in line with Cyprus’ efforts towards alignment with EU directives. As of January 2003, VAT will increase to 15%.

This morning, the House of Representatives will be holding a meeting for the endorsement of the entirety of tax reform bills pending since last Thursday, which could result in further fuel increases of around 2 cents per litre and 5 cents on crude and refined oil.