The Czech parliament has approved an excess profit tax for energy companies, mining and mineral oil companies and banks. After the House of Representatives, the second chamber of parliament, the Senate, also voted in favor of the bill on Thursday. Now only the signature of the president is missing.
The special tax will be levied for three years from 1 January 2023. The affected companies must pay an additional levy of 60 percent on profits that are more than 20 percent above the average of the past four years.
The Ministry of Finance expects additional revenue of more than three billion euros next year. The funds should be used, inter alia, to finance the price caps for electricity and gas for private households that have already been decided. The Chamber of Commerce of the EU member state criticized the plans. The excess profit tax deters foreign investors and generally makes the tax system less predictable, it said. (sda/dpa)
Soource :Watson
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
