The Cyprus Transport Ministry has announced that starting 2024, renewal for motor vehicles’ circulation tax can be ignited for 3, 6, 9, or 12 months, informing the public to avoid late payments by March 10 and escape a €10 surcharge and a 10% penalty on the pending amount. To renew the tax, a current motor insurance policy, and a valid MOT certificate are compulsory. The ministry further stated that from June 2023, renewals are only possible via the Road Transport Department’s website. Evangelos Panteli, an official from the Department, shared that almost 95% of licenses were renewed online last year, with 85% opting for a year-long renewal. He further noted that electric cars remain excused from the road tax. However, the impact of this on the Department’s revenue due to the growing popularity of EVs in Cyprus remains undetermined.
The EURUSD currency pair remains in a tight range above the 1.0900 support level on Monday as it struggles for direction. Investors seek fresh cues at the start of a busy data week, which may indicate how much the Federal Reserve will cut interest rates in September.
