State-owned energy generator Eesti Energia brings in about one-twentieth, or 5 percent, of Estonia's total tax take, in the form of environmental fees and direct taxes, ERR reports. However, adding the group's profits and the ensuing taxation to this sum, means the taxpayer might expect up to seven percent of the tax revenue from Eesti Energia as a proportion of the total contribution to the Estonian state's budget, either for 2022 as a whole, or for 2023.
Eesti Energia announced on Thursday that it has paid a total of nearly half-a-billion euros in taxes and environmental fees to the state budget in the first nine months of this year. Of this, €95.3 million constituted direct taxes, €399.1 million was CO2 emission costs, which increased by almost €100 million on year.
When comparing this sum with the tax revenue planned in the state budget in 2022, which was €11.1 billion, Eesti Energia has paid 4.45 percent of the tax revenue planned in the state budget as taxes.
At the same time, 2022 still has several weeks to go and Eesti Energia still has a whole quarter left in respect of taxes. At present, tax take stats are only known in respect of the first eight months of this year and total €7.67 billion. If on the other hand eight months' tax receipts are extrapolated for the remaining months, to €8.63 billion, Eesti Energia's tax contribution this year could be estimated at 5.72 percent of the overall national total, ie. lower than the proportion to date.
When Eesti Energia announced that the company's profit for the first nine months was €111.9 million, in principle this could also be counted as state revenue if the government extracts it from the company in the form of dividends.
Furthermore, next year this could also increase the company's contribution to the Estonian budget by 1.3 percentage points, to a total of 7.02 percent of the tax revenue.
Eesti Energia published its third quarter annual report on Thursday, reporting net profits of €27.4 million in the quarter and €111.9 million for January to September inclusive.
Editor: Andrew Whyte