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Energy Minister Advocates for Fair Trade and Competition

Energy Minister George Papanastasiou advocates for fair trade and competition at the Cyprus Conference on Competition Law, highlighting government measures to support the local economy with €256 million, reduce electricity costs, lower tax burdens, and reinforce consumer protection for economic resilience and quality of life. The focus is on creating a conducive environment for fair competition, addressing the challenges of the global economic landscape, and aligning with EU policies to enhance competition law and policy for a balanced and innovative market.

consumer protection zero vat rate

Zero VAT Impact on Consumer Shopping Bills

Consumers are saving approximately €7.50 on a €95 purchase, thanks to the zero VAT rate on essential products, stabilizing prices for 72% of items. Retailers nationwide have embraced this policy, ensuring compliance rates between 75 and 100 percent, easing the financial burden on households and enhancing consumer shopping experiences.

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