A new bill is the works that would change how Cypriots pay for their vehicle registration, but also how much road tax they pay depending on how soon they take care of their bill.
Vehicle owners who pay by January 15 will get a 20% discount, while those paying between January 16 and 31 will be able to save 15%.
Those paying on or after February 1 but no later than March 10 will pay the full price, while vehicle owners paying after March 10 will be assessed both a €10 fee and a 10% charge of the annual amount.
Registration periods that are issued quarterly and semi-annually will be discontinued under the new law.
The legislation is expected to be drafted and voted into law in September.