Excess profits: oil and gas threatened with extended taxation

The planned EU-wide excess profits tax for fossil energy companies could be extended from one to two years. Member states should be able to decide for themselves whether to levy the excess profits tax on oil, coal, gas, and refined products only in 2022, only in 2023 or in both years. That’s according to a compromise proposal from the Council presidency on Tuesday, which is available to Europe.Table. The Commission originally wanted a tax on profits from 2022.

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