The Ministry of Finance announced the temporary imposition of a 33% Solidarity Contribution on refining companies based on excess profits for the tax year 2023.

In more detail, following the imposition of an extraordinary temporary solidarity contribution on refining companies for the year 2022, an extraordinary temporary solidarity contribution (TSC) is introduced on refining companies based on excess profits for the tax year 2023.

According to Regulation (EU) 2022/1854, the Temporary Solidarity Contribution will be based on the surplus profits for the tax year 2023, which are 33% of the taxable profits for the tax year 2023 that are greater than 20% of the average of the results for the years 2018 to 2021.

It is noted that the Temporary Solidarity Contribution, calculated on the basis of the 2023 excess profits, will be ascertained in 2024 and reflected in the companies' returns for the 2024 tax year.

The revenues will be used mainly to provide financial support to pensioners in the month of December who, due to a personal difference, do not benefit from the new pension increase as of 1/1/2025, as well as to strengthen the National Public Investment Program appropriations.