An extraordinary tax imposed on Renewable Energy Sources has been ruled as legal by the Council of State, Greece’s Supreme Administrative Court, according to information obtained by EnergyPress.
The verdict on the extraordinary tax, delivered yesterday, and calculated as a percentage of turnover generated by Renewable Energy Source producers, comes as a setback to sector investors, who had taken legal action on the issue. The Supreme Court ruled that the tax is constitutional.
Even so, the negative ruling, for investors, may offer some silver lining. The reasoning applied by the court in reaching its decision could offer certain details that may be transformed into a powerful legal tool against the tax, according to legal officials specializing in the case.
The court decision noted that the extraordinary tax contribution was transaction-based, as stipulated by Article 78 in the Constitution. Legal experts working on the matter described the court’s reasoning as “considerably hasty and incomplete.”