Slovnaft to take Slovakia to court of arbitration
"If parliament approves a 70% tax on the excess profits of energy firms, Slovnaft will go to arbitration in Washington and we think we can win this," warns Slovnaft CEO Oszkár Világi. The government plans to collect €524m in the tax. Slovnaft will first pay 21% income tax on its profits and on top of that a further 70% tax. At the same time, it must invest hundreds of millions in adapting its technology to process non-Russian crude oil.
