Cyprus Collects €718.7 Million In Environmental Taxes

Environmental tax revenue across the European Union rose 6.1% in 2024 to €371.9 billion, according to Eurostat. Cyprus collected €718.72 million over the same period, highlighting the continued role of environmental levies in national tax systems despite their declining share of the broader economy.

Cyprus Figures Reflect A Broad Revenue Base

In Cyprus, households generated €355.46 million in environmental tax revenue in 2024, while non-residents contributed €35.08 million. The total of €718.72 million also includes receipts from all economic activities and unallocated categories.

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Energy Taxes Remain The Core Of Environmental Revenue

Across the EU, environmental tax revenue increased from €350.4 billion in 2023 to €371.9 billion in 2024.

Energy taxes remained the largest source, generating €287.0 billion, up from €269.3 billion a year earlier. Transport taxes ranked second, rising to €67.0 billion from €64.0 billion, while taxes on pollution and natural resource use contributed €17.9 billion, compared with €17.2 billion in 2023.

The Long-Term Share Is Shrinking

Despite the increase in revenue, environmental taxes accounted for a smaller share of the EU economy than a decade ago, representing 2.1% of GDP in 2024, down from 2.5% in 2014.

Their share of total government revenue from taxes and social contributions also declined over the same period, falling from 6.1% to 5.1%, indicating that environmental tax receipts have not kept pace with the broader expansion of government revenues.

Revenue Rose In Most Member States

Environmental tax revenue increased in 22 EU member states in 2024. Romania recorded the strongest annual growth at 21.7%, followed by Lithuania at 13.9%, Poland at 12.7% and Hungary at 12.2%.

Five countries reported declines. Sweden recorded the steepest fall at 17.7%, followed by Slovakia (6.1%), Finland (3.8%), Greece (3.7%) and Bulgaria (2.3%).

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Shein Targets $25 Billion Valuation In Hong Kong IPO As Growth Slows

by News Editor

August 17, 2026

Shein is reportedly targeting a valuation of around $25 billion in its planned Hong Kong IPO, a sharp decline from the nearly $100 billion valuation the online fashion retailer achieved in a 2022 fundraising round.

Two people familiar with the plans said the company was likely to target about $25 billion, while another source put the expected range at $25 billion to $28 billion based on the proposed price band.

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IPO Valuation Falls Sharply

Shein plans to sell up to 8% of its shares in the offering, according to a person familiar with the plans. At a $25 billion valuation, that would translate into an IPO of as much as $2 billion.

The latest target is also below the $30 billion to $40 billion valuation the company was seeking earlier this month as it began meeting with potential investors.

Founded in China in 2012 and now headquartered in Singapore, Shein sells low-cost clothing to consumers in about 160 countries. The company is expected to launch its long-awaited Hong Kong IPO later this week.

Trade Restrictions Weigh On Growth

Shein’s valuation has come under pressure as major markets tighten rules affecting low-cost e-commerce shipments. The European Union, for example, has moved to impose additional fees on cheap parcels from platforms such as Shein and Temu. EU Tightens Rules On Low-Cost E-Commerce Parcels

In the U.S., the removal of an import duty exemption for small packages has also affected the company. Shein reported a $99 million quarterly loss in the first quarter of 2026 as sales growth slowed, while a one-time accounting charge further weighed on its results. Shein Reports First-Quarter Loss Ahead Of IPO

Investors Question Shein’s Growth Prospects

The steep reduction in valuation reflects growing concerns over slower growth, higher trade costs, regulatory pressure and stronger competition across global e-commerce.

Some investors who reviewed Shein’s recent financial statements or attended IPO presentations told Reuters they were skeptical that the company could return to the growth rates that supported its $98.2 billion valuation in 2022. Shein’s Slowing Growth Tests Investor Appetite

A lower IPO valuation could also affect Shein’s existing investors. Under the terms of its IPO filing, the company may have to issue additional shares to certain pre-IPO investors if its valuation falls below agreed thresholds.

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