Reduced VAT on electricity bills extended for another year

Finance Minister Makis Keravnos on Wednesday announced that the government will extend the application of a reduced value added tax rate for home electricity consumption for another year.

Speaking after the day’s cabinet meeting, he explained that the policy, which had been in place since the end of March last year and was due to expire at the end of March this year, will now be in place until the end of March next year.

He said the decision was made “due to the fact that the...