PRAGUE, Oct 6 (Reuters) – The Czech Finance Ministry proposed on Thursday to slap a 60% tax on extra income for 2023-2025 within the power sector and for big banks, minister Zbynek Stanjura stated.
Stanjura advised a information convention the tax would increase about 85 billion crowns ($3.41 billion) subsequent yr alone and apply to electrical energy and fuel manufacturing, distribution and buying and selling, in addition to fossil gas mining, oil processing, and wholesale fuels buying and selling.
The proposal, which requires parliamentary approval, foresaw income of fifty billion crowns subsequent yr from the power sector and 33 billion crowns from banks.
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The general income ought to drop to 39 billion crowns in 2024 and 25 billion crowns in 2025, the ministry stated in a presentation.
The idea to find out extra income shall be common earnings within the earlier 4 years plus 20%, it stated.
The scheme will solely have an effect on giant banks, outlined by an earnings threshold of 6 billion crowns, it stated.
The tax shall be complementary to the European ceiling of 180 euros per magawatt hour of electrical energy comprised of different sources than pure fuel and laborious coal, above which all income shall be taken by the federal government.
Stanjura stated the ceiling ought to result in 15 billion crowns web yr.
($1 = 24.9390 Czech crowns)
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Reporting by Jan Lopatka; Enhancing by David Gregorio
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