Michalis Giakoumi: "Abolish VAT on basic necessities for 6 months"

Statement of Famagusta MP Michalis Giakoumis:

"We see day by day that the already limited disposable income of households is being cut more and more, but also that the operating costs of businesses are multiplying.

It is a good thing that some measures have been taken, mainly to reduce the cost of energy, which is the predominant operating cost for both households and businesses.

In this direction, as a Democratic Party - Cooperation of Democratic Forces, we will submit a Draft Law, which will provide:

Universal and horizontal reduction of VAT from 19% to 5% on electricity.
Abolition of VAT on food, medicine and basic necessities.
-Reduction of VAT to 9% in agricultural oil, heating and motor oil.
-Reduction of VAT to 5% for restaurant services and other food services.

"Based on our proposal, the above arrangements could be valid for 6 months."