Government agrees on windfall tax

The ruling coalition has agreed on the form of a windfall tax on profits in the energy and banking sectors, Finance Minister Zbyněk Stanjura told the Czech News Agency on Friday after a meeting of representatives of the five governing parties.

The revenue aims to generate around CZK 85 billion next year alone by placing a 60-percent tax on excess profits in the years 2023 to 2025. The tax should be paid by energy, oil and mining companies and banks.

The amendment is part of a new tax package approved by the lower house on Friday.