State-Owned Enterprises and Companies to Transfer 100% of Their Profits by 29 May 2026.

State-owned enterprises will be required to transfer 100% of their 2025 profits to the state by 29 May 2026. This is stipulated in an ordinance adopted by the Council of Ministers concerning profit allocations from state-owned enterprises and companies with state participation.

For companies in which state-owned enterprises hold more than a 50% stake, a dividend distribution of 70% of profits is envisaged.

Excluded from the scope of the ordinance are hospitals and other inpatient healthcare establishments, mental health centres, companies operating in the water supply and sewerage sector, and state enterprises under Article 62, paragraph 3 of the Commercial Act that constitute budgetary organisations within the meaning of the Public Finance Act.

The option for publicly listed companies to distribute an interim six-month dividend of at least 50% of profits remains in place, with payment required by 15 December 2026.

The adoption of the ordinance is intended to ensure fulfilment of the revenue component of the state budget, specifically regarding non-tax revenues generated from dividends.

The government stated that the measure aims to guarantee state budget revenues and ensure compliance with fiscal rules and the requirements set out in the Public Finance Act and the Stability and Growth Pact.