South Loses Millions in Tax as Motorists Fill Up in TRNC

North Cyprus News - Petrol pumpAs Greek Cypriot motorists continue to buy fuel in North Cyprus, the south has lost around 12 million euros in tax revenue in the first seven months of the year, the consumer association said on Monday.

During the same period, Greek Cypriot petrol stations have lost nearly one million euros in commission.

Taking into account total sales in 2016 and 2017, the association concluded that in the first seven months of the year, people bought around 8.8m litres of 95 octane petrol and 8.7m litres of diesel from the north, or 3.71 percent and 4.34 percent respectively of the sales in South Cyprus.

It also represents 11 percent of sales in the north.

The cheapest district to buy petrol in August was Famagusta with Paphos being the most expensive. Nicosia was marginally the cheapest for diesel and Paphos, again, the district with the highest prices.

Cyprus Mail

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