Act on temporary taxation of profits within the electricity industry and the fossil fuel sector (No. 363 of 2023).

The present Act lays down rules on temporary taxation of activities within the electricity industry and the fossil fuel sector. It applies to the tax year 2023. Within the electricity industry, it applies to companies operating in the electricity market and engaged in electricity production referred to in Article 3(13) of the Electricity Market Act (588/2013) or electricity supply referred to in Section 3(11) of the same Act when the company's total turnover for electricity retail business is at least 500,000 euros. Within the fossil fuel sector, it applies to companies whose turnover consists of more than 75 percent of one or more of the following activities: 1. Extraction of crude oil or natural gas; 2. Production of refined oil products from crude oil; and 3. Manufacture of coal products (companies operating within the fossil fuel sector).