Robin Hood approved

The legislation aims to boost competitiveness in the energy sector by imposing 8% extra tax on large energy provider- and trader companies. Up till the voting the outcome was very uncertain, as all opposition parties indicated their disapproval in advance. The acceptance of the Robin Hood tax rested on how many of the opposition miss the voting as for the approval 50+1% at present needed to vote. The government plans to finance the new distinct heating subsidizes introduced this October from the Ft30 billion revenue of Robin Hood starting from next year. The extra income can be spent only at the district heating subsidies and the modernization of the heating system.
The new tax is “short-sighted and shows a grim picture to both present and future investors” and also discriminates against companies operating on high standards, Hungarian Oil, MOL said in its press release. Moreover it will set back Hungarian companies compared to their regional rivals, MOL added.