On 15 September 2026, the Tax and Customs Authority (AT) confirmed that the extraordinary contribution on the petroleum sector (CESEP) will be levied for the 2026 fiscal year. The tax applies to taxable profits exceeding 120% of the average taxable profit from the 2022-2025 period, at a rate of 33%. Affected companies include integrated oil groups operating in exploration, refining, and distribution. The first payment on account is due by 31 October 2026.
Key Takeaways
- Calculation Base: The reference average uses the four preceding fiscal years, adjusted for extraordinary items.
- Scope: Covers corporate groups with upstream and downstream activities; pure retailers exempt.
- Compliance: Taxpayers must submit a specific declaration (Model 22-CESEP) by 30 November 2026.
Disclaimer: This article is compiled and summarized by the AI based on publicly available information and is for general information purposes only. It does not constitute any form of formal tax advice, legal opinion, or basis for performance. Please consult a qualified professional tax advisor or legal counsel for tax advice.
Source: Read Official Announcement