Windfall profit tax collection from September, two stages

A tax on windfall profits earned by vertically integrated energy groups since the beginning of the energy crisis will be applied over two stages, the first covering the period between October, 2021 and March, 2022, and the second between April and June.

RAE, the Regulatory Authority for Energy, has already begun working on details concerning the first period, but more processing is needed before the windfall profit tax, set at 90 percent, can be imposed.

Also, a ministerial decision from the energy and finance ministries, required by a legislative revision concerning the windfall profits, is still pending. It will specify amounts to be taxed.

Tax collections through this extraordinary measure, to help fund support for consumers through the energy crisis, are not expected to begin until September.