Lithuania to introduce tax on excess profits for energy companies

The ruling majority in the Seimas (parliament) of Lithuania agreed with the initiative to tax superprofits of energy companies. The corresponding decision was approved at a meeting of the Council of the ruling coalition, writes sb.by.

Prime Minister Mindaugas Sinkevičius told reporters:

- The Council decided to develop a scheme for taxing excess profits in the energy sector.

According to government estimates, the tax on excess profits will replenish the state budget of 2027, the draft of which is under consideration by the Seimas, by € 70 million.

The ruling coalition council also decided to increase the excise tax on alcohol and tobacco at a faster pace than planned, which could bring in another €20 million.

Additionally, the option of abolishing some social benefits is being studied, but the question remains open. In Lithuania, predicted the strengthening of calls in the EU to return to gas from Russia in the absence of a solution to the energy crisis