fuel

It’s not a lie… We have to endure this as well…

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It’s not a lie… We have to endure this as well…

Effective today, the reduced tax rate on fuel in Cyprus has expired, leading to an increase in retail fuel prices. This change coincides with the implementation of green taxation, which is expected to further raise costs. The middle class is predicted to be the most affected, but the idea that those on public assistance will be shielded from the impact is misleading. Comparisons with other countries are not valid due to differing infrastructure systems. Rising prices are a serious issue that must be confronted.

Rising fuel costs hit consumers

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Rising fuel costs hit consumers

The government’s termination of the zero tax rate on motor oil and petrol has led to an increase in fuel prices by 8.3 cents/litre, affecting citizens’ transportation and the retail sector. A green tax is expected to be imposed in October-November, further increasing fuel prices. The international Brent price is currently around per barrel, indicating that prices are unlikely to decrease soon. The average price of unleaded petrol in the EU-19 as of March 25 was €1,813.10, showing an increase of 1.05% from the previous week.

Historic Paphos station undergoes demolition

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Historic Paphos station undergoes demolition

The fact described in the text is that Andreas Kommatos’ fuel station in Paphos has been relocated from the commercial centre to a new location near Kato Paphos harbour. This marks the end of an era and familiar image that had been present in the heart of Paphos for decades.

Fuel prices surge after government tax measures end

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Fuel prices surge after government tax measures end

Fuel prices have surged following the termination of the government’s zero tax measure on petrol and diesel, resulting in an average increase of 8.3 cents per litre. The average price of unleaded 95 fuel was €1.413,47.

Erdogan’s rival leads in Istanbul in high-stakes Turkey vote

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Erdogan’s rival leads in Istanbul in high-stakes Turkey vote

Istanbul Mayor Ekrem Imamoglu led a challenger from President Tayyip Erdogan’s AK Party in local elections, potentially boosting the Turkish opposition. In Ankara, incumbent opposition mayor Mansur Yavas declared victory over his AK Party challenger. Violence erupted in some cities in eastern Turkey related to the election of neighborhood officials. Imamoglu had 50% support compared to 41.26% for AK Party challenger Murat Kurum. The CHP is leading nationwide by almost 39% of the votes. Analysts suggest that a poor showing for AKP could loosen Erdogan’s control of Turkey. Imamoglu’s win could signal potential change in Turkey’s political landscape.

Balancing Uncle Sam’s Checkbook: Biden’s Tax Proposals | JD Supra

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Balancing Uncle Sam’s Checkbook: Biden’s Tax Proposals | JD Supra

Fact: President Biden’s Fiscal Year 2025 Budget Proposals include new tax proposals such as increasing the corporate alternative minimum tax, increasing the excise tax rate on corporate stock repurchases, limiting corporate tax deductions for certain salaries, increasing the tax cost of private jet usage, limiting benefits for private placement life insurance, expanding the 10% shareholder exclusion from the portfolio interest exemption, and requiring controlled foreign corporations’ taxable year to match the year of its majority U.S. shareholder.

Drivers rush to fill up, as petrol prices set to go up

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Drivers rush to fill up, as petrol prices set to go up

Increased traffic was observed at petrol stations on Saturday ahead of the termination of the measure to reduce the special consumption tax from Monday, 1st April.

Famine ‘quite possibly’ in some areas of north Gaza, US official says

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Famine ‘quite possibly’ in some areas of north Gaza, US official says

Famine is possibly present in parts of the northern Gaza Strip, with a scarcity of trucks hindering aid distribution.

Petrol stations packed as motorists beat price hike

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Petrol stations packed as motorists beat price hike

– Petrol stations were packed as motorists rushed to fill up their tanks before the reduced tax measure ends on April 1.
– More price hikes are expected soon due to increasing fuel prices on the international market.
– Prices have already gone up 2 to 3 cents, varying across different companies.
– The subsidy on fuel consumption tax will end on Monday, resulting in an 8.3 cent hike per litre on petrol and diesel and 6.4 cents on heating oil.

Economic conditions not static, DISY MP warns

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Economic conditions not static, DISY MP warns

The spokesperson for DISY, Onoufrios Koullas, emphasized the importance of keeping the middle class and small and medium-sized enterprises on track to create jobs and future revenue for the state. He highlighted the need for a holistic approach to address rising costs of living and economic conditions that are constantly changing. Koullas also criticized the government for relying on one-off measures and proposed targeted tax measures for middle-income families. DISY suggested investing the additional revenue from a fuel tax into the economy.