The measure regarding the reduction in the price of fuel was not implemented today, as initially expected, since the relevant bill had not been brought before the Plenary of the Parliament, in order to be voted on by the members of the legislative body.
Among the measures announced by the Government on October 19 for the relief of households and businesses was the reduction of the excise duty on motor fuels and heating oil.
The implementation date was set for November 1st, however, this was ultimately not possible, as, according to the procedure, the relevant bill must first pass through the competent Parliamentary Committee of the House of Representatives, in order to process it.
The Finance Committee meets in an emergency
As we are informed, the bill that will amend the Law on Consumption Taxes, has been submitted to the Parliament for a vote in the form of the urgent, and for this reason, the Parliamentary Committee on Finance will hold an extraordinary meeting tomorrow, with the aim of taking it to tomorrow's Plenary.
The bill aims to impose reduced rates of excise duty and, as the Ministry of Finance states in its introductory report, is part of the package of measures to deal with inflationary pressures, to support affected incomes.
The bill provides for the application of reduced rates, at the minimum limits allowed by the Community Directive - regarding the restructuring of the Community framework for taxation of energy products and electricity.
In numbers
Based on the minimum rates of the acquis communautaire, motor fuels will be reduced by 8,33 cents per litre, including VAT (petrol from €0,429/litre to €0,359/litre and diesel from €0,40/litre to €0,33, 0,07473/liter), while for heating oil it will go from €0,021/liter to €6,39/liter, i.e. recording a decrease of XNUMX cents per liter, including VAT, depending on weather conditions.
The measure will be applied for the months November 2023 – March 2024, regarding motor fuels and for the months December 2023 – March 2024 regarding heating fuels.
The fiscal cost for the motor fuel tax subsidy is expected to amount to €21.8 million, while for heating fuel it amounts to €3.8 million.
Source: Economytoday
