Czech Republic Plans $6 Billion Windfall Tax to Fund Energy Aid
- Government wants 60% tax on extraordinary profits in 2023-25
- New levy on power, gas, banking, petrochemical, mining firms
A vendor holds a 200 Czech koruna banknote in Prague.
Photographer: Martin Divisek/BloombergThis article is for subscribers only.
The Czech government proposed to raise 149 billion koruna ($6 billion) over the next three years by imposing windfall taxes on the biggest companies in selected industries to fund its energy subsidies.
The special levy will target extraordinary profits at electricity and natural gas producers and traders, banks, fossil-fuel miners, petrochemical companies and fuel wholesalers, Finance Minister Zbynek Stanjura told reporters on Thursday.