In the northern region, casinos will now benefit from reduced gaming services taxes, cut in half from ten to five percent, as the government aims to ease the overall tax burden on gambling establishments. However, the tax rates on the number of gaming tables and slot machines have simultaneously increased by 17 percent, potentially affecting both casino finances and government revenue.
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The PanCyprian Consumer and Quality of Life Union criticizes the government’s new support package, viewing it as a temporary solution rather than a comprehensive one. The Union raises concerns about the temporary subsidies offered, the lack of mention of gas, the inadequacy of the Photovoltaics for All Plan, and the government’s approach to tackling energy poverty. While the Union welcomes the zero VAT rate on meat and vegetables, it questions the potential effectiveness of this measure. Overall, the Union emphasizes the need for more sustainable and effective solutions to address the country’s energy and consumer issues.
