The Polish parliament on Friday adopted a law introducing a temporary tax on excess profits of fuel companies.
The introduction of a temporary tax on excess profits was voted for by 231 members of the Sejm, while 201 parliamentarians opposed it, and one member abstained.
According to the law, a tax of 60% will be imposed on excess profits earned from March to December of this year.
It is expected that the revenue from this tax will exceed 3.8 billion zlotys (about 900 million euros). These funds are planned to be directed towards financing a reduction in fuel excise duties and compensating for the price restrictions on fuel imposed by the government to mitigate the effects of the sharp rise in global oil prices following the strikes by the USA and Israel on Iran. The cost of these measures in the first three months is estimated at approximately 4.8 billion zlotys.
The excess profit tax will be levied on profits exceeding the baseline profitability level. The benchmark is defined as the average profit margin from fuel sales in 2025 plus 20%.
