Slovnaft might have to pay billions

FINANCE Minister Ivan Mikloš will authorize a second inspection of Slovnaft to examine their pricing strategy from October 1, 2004 to the present.

The Finance Ministry will fine the crude oil refiner up to Sk1.3 billion (€33.5 million) as well as try to recover the money they gained through profiteering. This could mean Slovnaft having to pay a total Sk2.7 billion (€69.7 million).

According to the law on pricing, motorists are entitled to compensation equal to the amount Slovnaft earned through profiteering.

However, Finance Minister Mikloš admitted that technically it could prove difficult. He suggested, therefore, that the sum received from Slovnaft could go towards excise tax reductions.

Compiled by Magdalena MacLeod from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

How to save regional airports?

Most small airports struggle with debt.

The airport in Poprad is situated just under the High Tatra mountains.

The UK must hold a general election or another Brexit referendum

There is no other way out of these absurd Brexit negotiations.

Flags displayed on a tourist stall, backdropped by the Houses of Parliament and Elizabeth Tower containing the bell know as Big Ben, in London.

So blue! Slovakia has another record in UNESCO

It is not easy to create a perfect blueprinted fabric.

Some provisions in the residence of foreigners and asylum laws unconstitutional

The Supreme Court, which challenged the provisions, acted based on a case from 2013.

Constitutional Court in Košice