Surplus income of power producers yields 367.07 million euros in taxes

“It was verified yesterday, by the Corporate tax bureau of Athens, an amount of 367,067,027.54 euros for the extraordinary contribution of 90% based on the increase in the gross profit margin, to electricity producers for the period October 2021 – June 2022″. This was stated by the Minister of Finance Christos Staikouras, pointing out that this amount is payable until December 30, 2022, while in the following days the remaining amounts from the remaining VAT, amounting to 6,478,194.19 euros, will be confirmed, with the total amount of the extraordinary levy for the specific period amounts to 373,545,221.73 euros.

As Mr. Staikouras also said, “in addition, from July 2022 until the end of November 2022, an amount of 2,568,412,721.83 euros has been collected, through the withholding mechanism of excess revenues in the energy exchange, of which an amount of 979,692,524.78 euros concerns withholding of profits from natural gas, lignite and hydroelectric technologies and an amount of 1,588,720,197.05 euros from Renewable Energy Sources (RES). Based on the above and excluding RES, profits totaling 1,353,237,746.51 euros have been withheld from the electricity production companies.”

The Minister of Finance emphasized that “Greece appears, based on a report by the European Commission, an analysis by the American organization taxfoundation and data from the Bruegel Institute, as one of the first countries of the 27 member states of the European Union to have imposed a levy and/or withholding tax to the excess profits of electricity producers, and indeed with the highest rate. And these amounts are returned to the citizens through the support measures implemented by the government, in a socially just way”.