An extraordinary tax on refineries’ increased margins approved by the government at the end of September will threaten the entire Czech industrial sector, the country’s Confederation of Industry said on Tuesday.
The government proposal could classify even a simple return to normal production levels as an extraordinary profit, the Confederation argues. Moreover, the Czech model is stricter than some similar measures introduced abroad. The Confederation has therefore called on the government to reconsider the tax, it said.
Last month, the government decided to impose an extraordinary tax on refineries that will apply this year and next year. The tax will be levied on the increase in margins compared with 2025. The move comes in response to a rise in refinery margins caused by disruptions to the global oil market.