Compromise VAT bill on new homes

The government has retabled a bill for reduced VAT on first homes, aiming to find the sweet spot between MPs’ concerns and the European Commission, which has initiated infringement proceedings against Cyprus

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Pushback to VAT change on home buys

MPs are undecided on whether to pass a European Union directive reducing the size of homes entitled to lower 5% VAT or face hefty financial penalties, while the construction industry wants authorities

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VAT cut on electricity bills in limbo

A bill approved by opposition parties to cut VAT on electricity bills indefinitely from 19% to 9% across the board is in limbo after MPs rejected President Nicos Anastasiades veto. Parliament, including