The State of Georgia’s net tax collections in June approached a total of $3.03 billion, for an increase of $185.4 million or 6.5 percent compared to FY 2023, when net tax collections totaled $2.84 billion for the month. Year-to-date, net tax revenue totaled almost $32.95 billion, for a decrease of $182.2 million or 0.5 percent … Read more
The State of Georgia’s net tax collections in June approached a total of $3.03 billion, for an increase of $185.4 million or 6.5 percent compared to FY 2023, when net tax collections totaled $2.84 billion for the month. Year-to-date, net tax revenue totaled almost $32.95 billion, for a decrease of $182.2 million or 0.5 percent … Read more
West Texas Intermediate (WTI) futures in NYMEX extend its correction to near $82.20 in Monday’s Asian trading after posting a two-month high near $84.00 on Thursday. The crude oil price came under pressure as investors worry about Storm Berly, which could disrupt US energy supplies. Should the tropical storm turn into a Category Two hurricane, … Read more
The State of Georgia’s net tax collections in April totaled .96 billion, with a decrease of 5.7 million or 5.4 percent compared to the previous year. The net tax revenue for the year-to-date period was .45 billion, showing a decrease of 1.3 million or 1.2 percent compared to the same period in the previous year. Collection revenues for the ten months ended April 30 were down 4.6 percent from fiscal year 2023.
In April 2024, inflation in Cyprus reached its highest level since October 2023, with the Consumer Price Index rising to 2.4 per cent. This increase was mainly driven by the expiration of subsidies on motor fuel and heating oil, leading to higher prices for oil products.
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.
Petrol prices in Cyprus are expected to increase by 14 cents per litre on April 1 due to the end of a government subsidy and the potential introduction of a green tax. The initial increase will be 7 to 8.3 cents a litre for motor petrol and diesel, and 6.3 cents for heating oil. The consumption tax on fuel is set to be reinstated at midnight on March 31. An additional increase of 5 cents may occur if the new green tax is approved. The green tax is expected to start from April 1, with an annual escalation from 5 cents in 2023 to 25 cents by 2033. Cyprus ranks among the EU countries with comparatively cheaper fuel. Petrol station owners warn of further increases due to pricier fuel shipments. The fuel tax exemption, introduced in March 2022, reduced the price of petrol by 7 cents a litre, diesel by 8.3 cents, and heating oil by 6.4 cents. In March 2022, the average price of 95 octane unleaded petrol was €1.44. As of the last reported Friday, the average prices were €1.412 for a litre of 95 octane petrol, €1.508 for diesel, and €1.067 for heating oil.