Cyprus implements temporary fuel import tax relief

The Council of Ministers has implemented a temporary one-week tax and fund shield on fuel imports to mitigate the impact of the ongoing war in the Middle East on global energy markets.

Effective from August 27 to September 2, 2026, the measures include the removal of a 1% premium on the CIF value for diesel and eurodiesel imports. Additionally, customs duties and pier fees will be waived for the importation of unleaded gasoline, eurodiesel, diesel, kerosene, fuel oil, and aviation gasoline.

The regulation also suspends the Tourism Development and Promotion Fund contribution for gasoline, eurodiesel, and kerosene imports. Furthermore, the Price Stabilization Fund contributions for diesel and eurodiesel have been set to zero during this period. The primary objective of these decisions is to limit potential increases in pump prices.