Budapest-Hungarian oil and gas company MOL is "not happy" about the new so-called "Robin Hood" tax on energy companies passed into law by Hungary's parliament late November 11, MOL Chairman and CEO Zsolt Hernadi said on the local Info Radio in Budapest. The tax sends the "wrong message to investors," he said. The tax will amount to 8% of profits for most energy companies, with the major exceptions being regulated infrastructure-based transmission and distribution networks for natural gas and power, and gas storage businesses.
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