The profit margin of the companies operating in September 2021 should henceforth be operated by those who trade or produce products whose costs are affected by the war in Ukraine.
This was stated today by the Minister of Development and Investment, Adonis Georgiadis, speaking on the Open TV station, noting that, now, at the highest price, the profit margin of September 2021 will be the guide for the profit margin. In fact, he clarified that this choice is made with care for areas such as islands where there are increased costs (eg transportation) and that is why the profit ceiling is provided for the income-expenditure base.
He noted that “there will be no vague ceiling on profit margins” and added: “In general, all companies should understand that they have to turn their backs on this given situation” while he announced that today or tomorrow heavy fines will be made public, in many companies in the food chain, for excessive profit, according to the latest audits.
The relevant amendment is ready and will be submitted to Parliament today, as stated by Mr. Georgiadis.
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