Cyprus MOF Seeks Comments on Two Draft Bills to Overhaul Green Tax

The Cypriot Ministry of Finance March 6 opened a consultation on two draft bills to overhaul green tax. The bills include measures that would: 1) clarify the scope of an accommodation tax and provide penalties and fines for noncompliance; 2) impose a carbon tax on motor fuels and polluting industries from 2024 and specify its increases through 2023, continuing its application for the following years as specified in the Annexes to the bill; 3) impose a carbon tax on energy products even if they are exempt from the excise duty payment; 4) apply VAT on energy products subject to carbon ...