The Minister of Finance, Konstantinos Petridis, gave an answer to the letter of the General Secretary of AKEL, Stefanos Stefanos, regarding the taxation of windfall profits.
Specifically, in his post on Twitter, Mr. Petridis states the following: "Dear Stefan, AKEL knows how to file and vote for an (unconstitutional) VAT reduction. To raise taxes (constitutionally) with a proposal of law does he not know? In any case, we will meet."
Dear Stefan, AKEL knows how to file and vote for an (unconstitutional) VAT reduction. To raise taxes (constitutionally) with a proposal of law does he not know?
Anyway, we'll meet https://t.co/ulZUgLwfj5- ConstantinosPetrides (@Petrides_C) August 29
It is recalled that earlier, the General Secretary of K.E. of AKEL, Stefanos Stefanou sent a letter to the Minister of Finance, Konstantinos Petridis, in which he reiterates his request (July 8, 2022) for a meeting with the Minister of Finance on the issue of the taxation of windfall profits.
The letter states:
“On July 8, 2022, I wrote to you requesting a meeting to discuss a framework of thoughts on the taxation of windfall profits that we have prepared, but I regret to note that we have not received any response.
I would like to remind you that the issue of the taxation of windfall profits, which is a clear recommendation to the Member States from the European Council, was positively addressed by you during the discussion held in the framework of the National Council (June 20, 2022) for accuracy and inflation.
AKEL reiterates the need to take substantial measures to relieve society at a time when the accuracy of basic necessities – and especially electricity and fuel – is draining the budget of tens of thousands of households and compressing the business activity of many SMEs. The taxation of windfall profits is an important tool in the hands of the government to enhance the state's revenue in order to further support various groups. Such a thing is already being implemented by several states in the EU and beyond.
Please I have an answer to the request for a meeting with you to discuss the matter."