What he wanted to do

Here are the measures proposed by Finance Minister Christodoulos Christodoulou to the House last Thursday:
Rejected by the House:

* 25-cent increase on every packet of 20 cigarettes. * Five-cent increase on a litre of petrol. * Three-cent increase on a litre of diesel. * Change of tax on imported second-hand cars. * Increase in tax on all-terrain vehicles.

The above measures were expected to bring the treasury £25.3 million this year and £44.5 annually thereafter.

The following have been referred by the House to the Finance Committee:

  • VAT up from eight per cent to 12 per cent and up from 0 per cent to five per cent on items currently exempt from the tax.

* Five per cent VAT on services offered at restaurants and hotels.

  • The reintroduction of a three per cent charge on services offered at public establishments certified by the Cyprus Tourism Organisation from July 1999.

 

The above will generate revenue of £30 million this year and 120 annually thereafter.

 

  • The abolition of duty exemptions currently enjoyed by some semi- government organisations. This will generate £1.7 million this year and £3 annually thereafter.
  • Increases by 35 per cent on vehicle registration and road tax, effective January 1999. This will bring the treasury £10 million annually
  • A five-pound monthly charge on mobile telephones to net the government £2.5 million this year and £5 million annually thereafter.

 

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