The Minister of Finance, Mr. Constantinos Petrides, participated today, Tuesday, 6 December 2022, in the ECOFIN Council meeting, which discussed, inter alia, the Proposal for a Council Directive on the taxation of energy products and electricity (Energy Taxation Directive), which is also included in the EU policy fit for fifty five for the decarbonisation of fossil fuels.
In his intervention, the Minister of Finance said that the economic, geopolitical, geographical and social specificities of the Member States must be taken into account.
The Minister of Finance stressed the specificities of Cyprus, particularly as an island and isolated state and the importance of connectivity with other countries and expressed his position for maintaining permanent exemptions to excise duty on energy products for the aviation and shipping sectors from increased taxation.
He also stressed that the geographical location and specificities of Cyprus create the need for permanent special treatment to govern aviation and shipping services without imposing additional taxation due to their CO2 emissions.
(BG/SX)
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