Slovakia: Regulation for calculation and accounting of emission tax

The Slovak ministry of environment issued two regulations regarding the 80%taxation of sale revenues for CO2 certificates.

Slovakia taxes in 2011 and 2012 the revenues for the sale of CO2 certificates by 80%. However, this tax does not apply if the operator can prove real reduction of CO2 emissions for other reasons than reduction of the production. The tax provisions are considered unclear and confusing. To bring light into the issue, on 14 June 2011, the ministry of environment issued two regulations: regulation no. 177/2011 defines the formula for calculation of CO2 emissions. Details regarding accounting can be found in the regulation no. 178/2011.