Excise duty on heating oil will be cut to 2.1 cents a litre from 7.5 cents, with the lower rate taking effect at 12.01am on Friday, subject to parliament’s approval, the House Finance Committee heard on Monday.
The government bill will be put to the plenary for approval on Thursday, October 22, the committee was told during its discussion of the bill.
A Finance Ministry representative said a request by Cyprus to the European Commission for a zero excise rate on heating oil would be clarified in the coming months.
