Slovnaft refinery. (source: SME - Jozef Jakubčo)
The Bratislava refinery Slovnaft, a business owned by the Hungarian oil and gas group MOL, reached record high profit last year.
Its sales increased by 51 percent year-on-year, to more than €6 billion. Its profit tripled and exceeded €1 billion, the Sme daily writes.
The state’s expectation that it would collect €400 million on the temporary solidarity tax on excess profits, in addition to the annual income tax, have thus been exceeded. In total, Slovnaft paid €625 million in taxes, according to the FinStat website.
Slovnaft profits.
The solidarity tax targeting energy firms was introduced after Russia invaded Ukraine, following a recommendation from the European Union. In the end, Slovakia decided to introduce a 55-percent tax for 2022 and a 70-percent tax in 2023. Slovnaft considers the solidarity tax to be “inadequate” and “unlawful”. It is preparing a lawsuit against Slovakia.
