The Greek Parliament is set to introduce a new tax targeting excess profits of oil refining companies.
The 33 percent Temporary Solidarity Contribution will be applied to profits exceeding 20 percent of the average results from 2018 to 2021.
The expected revenue of €300 million will be used to provide financial assistance to pensioners who won't receive an increase in 2025 and to boost the Public Investment Program.
Refineries must submit a declaration to the tax authorities by September, and payment is due by February 28, 2025. The tax will be accounted for in the fiscal year 2024.
In addition, the new legislation includes measures to combat tax evasion by requiring certain businesses to offer card payment options and inform customers about their rights.