The Council of Ministers decided at a meeting on Thursday (19/5) to reduce the VAT rate on electricity consumption for vulnerable households from 04% to 11% for a period of six months.
In their statements after the session, the Minister of Finance Konstantinos Petridis and the Minister of Trade and Industry Natasa Pileidou stressed that this measure is part of the "toolbox" with the measures that have already been decided to address the increase in electricity.
However, the Minister of Commerce clarified that this measure requires approval by the European Commission.
kathimerini.com.cy