Home Business pressure mounts to tax tanker profits

pressure mounts to tax tanker profits

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For several months, energy prices have increased considerably due to the strong demand linked to the restart of activity following the Covid-19 epidemic. With the outbreak of war in Ukraine on February 24, this dynamic accelerated sharply, particularly in the European Union. In France, the main road fuels passed the symbolic bar of €2 per liter on average last week, according to official figures published on Monday March 14.

Faced with this situation, most European countries have implemented measures intended to reduce the bill for households and businesses, as in France where Jean Castex announced a discount at the pump of 15 cents per liter of fuel from the April 1st.

→ READ. Average fuel price exceeds €2 per liter for the first time

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But these measures have a significant cost for public finances. To deal with this, several countries, such as Italy, are considering taxing the profits made by producers in the wake of rising prices. A decision approved by the Organization for Economic Cooperation and Development (OECD).

“We encourage governments to consider this seriously”

Its secretary general Mathias Cormann deemed it legitimate on Monday to temporarily increase taxes on energy companies in order to finance measures aimed at consumers, the first to be affected by soaring prices. “It was done in Italy and Romania” and “We encourage governments to consider (that) seriously »in view of “benefits” garnered by the major groups in the sector, he said.

A position shared by Brussels. The European Commission on Tuesday, March 8 presented solutions to cushion the impact of soaring energy prices on household and business bills. Beyond the already relaxed conditions for public aid, the Commission will also allow States to tax the profits of energy companies generated by the surge in prices in order to redistribute them. Only condition: “Do not generate unnecessary distortion of the market. »

In France, the idea is defended by several candidates for the presidential election. The La France insoumise candidate, Jean-Luc Mélenchon, who has long advocated the idea of ​​taxing oil tankers’ profits, was joined by Yannick Jadot (EELV). Recently, it was Marine Le Pen who, on March 10, expressed her wish to “to tax” those groups that “do very good business”.

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