THE COST of a packet of cigarettes will rise by ten cents as of today following a bill passed by the House plenum last night.
The hike was part of a series of adjustments passed by the House which also saw a rise in domestic fuel prices, a cut of up to two cents in the price of petrol and a rise in diesel prices of as much as 5.5 cents per litre.
While the increase in price of cigarettes takes effect from today, a five cent cut in the price of petrol will be applied from January 2. This reduction however will be partly offset by an additional consumer tax – also effective January 2 — of three cents per litre, thus cutting the actual saving to just two cents.
Owners of diesel vehicles will be the hardest hit come January 2 as regular diesel will go up by 1.5 cents a litre while low sulphur diesel will cost 28.5 cents a litre, up from the current 28.2 cents. On top of that, the government slapped a consumer tax of four cents per litre on diesel.
The House also approved a 40 cents increase on gas, increasing the price of a gas cylinder to £2.50. The new gas prices also come into force on January 2.
From the New Year all vehicle registration fees will increase by 20 per cent. Owners of petrol-fuelled vehicles weighing up to 1,016 kilograms will pay 10 per cent more on road tax, while the tax of heavier vehicles with petrol engines is set to rise by 20 per cent.
Road tax on diesel vehicles was cut by 10 per cent.
Consumers are reminded that come January 1, 2003, an additional two per cent is to be added on VAT bringing it up to 15 per cent.
The Cyprus Mail is the only English-language daily newspaper published in Cyprus. It was established in 1945 and today, with its popular and widely-read website, the Cyprus Mail is among the most trusted news sites in Cyprus. The newspaper is not affiliated with any political parties and has always striven to maintain its independence. Over the past 70-plus years, the Cyprus Mail, with a small dedicated team, has covered momentous events in Cyprus’ modern history, chronicling the last gasps of British colonial rule, Cyprus’ truncated independence, the coup and Turkish invasion, and the decades of negotiations to stitch the divided island back together, plus a myriad of scandals, murders, and human interests stories that capture the island and its -people. Observers describe it as politically conservative.
