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German sales tax reduction on gas to cost 10 bln eur - govt official

·1 min read

BERLIN, Aug 18 (Reuters) - A reduction in German sales tax on gas, designed to help consumers shoulder additional levies on already-high energy bills, will cost the state about 10 billion euros ($10.16 billion) through March 2024, a government official said.

The government aims to have the tax reduction in place by Oct. 1, when the levies are to be introduced, the official added.

The levies will add hundreds of euros to the average family's energy bill annually, in part by allowing utilities to pass on the soaring costs of replacing throttled Russian gas imports.

($1 = 0.9839 euros) (Reporting by Andreas Rinke Writing by Rachel More Editing by Madeline Chambers)