Greece expects to boost round 650 million euros ($690.82 million) from a windfall tax on its two oil refineries this fiscal 12 months and use the proceeds to assist households with their month-to-month meals bills, its finance minister mentioned on Monday.
During a parliamentary vote for the 2023 funds on Saturday, Prime Minister Kyriakos Mitsotakis mentioned his conservative authorities, whose time period expires subsequent 12 months, will subsidise 10% of month-to-month meals prices for about 85% of Greek households from February till July subsequent 12 months.
Countries across the European Union have been asserting windfall taxes on oil and fuel companies as a part of emergency measures to assist customers take care of a twin inflation and power disaster.
“Without any fiscal cost, we will tax the refineries for 2022 … to collect, we estimate, 650 million euros,” Finance Minister Christos Staikouras advised state tv ERT on Monday.
The quantity can be finalized as soon as Greece’s two oil refineries, Helleniq Energy and Motor Oil, publish their monetary end result for the fourth quarter, Staikouras mentioned.
