Superprofits tax could raise 7 billion euros

The debate over taxation of superprofits continues. At the tip of October, Shell and TotalEnergy’s announcement of improved third-quarter outcomes reignited debate and proposals to tax the oil giants’ earnings. After claiming he didn’t know” What is tremendous revenue? In entrance of Medeff at Longchamp racecourse in August, Economy Minister Bruno Le Maire wore a masks. He lastly determined to align himself with the place of the European Commission, as desired by the President of the Republic, Emmanuel Macron. Brussels Plan Contribution of fuel, coal and oil producers and distributors, 20% increased than the typical for the yr 2019-2021, is ready at 33% of earnings”.

Amid the parliamentary debate over the 2023 funds, a examine by the Institute of Public Policy (IPP) revealed this Thursday, November 17 that powder can catch hearth. After a number of months of labor, economists revealed that the tax could be between 6 and 7.3 billion euros, in opposition to simply 200 million euros in keeping with authorities estimates.

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As a reminder, the chief modification, launched within the 2023 funds and impressed by European Commission guidelines, offers that this tax have to be restricted to firms that obtain 75% of their turnover. “Their Extraction, Mining, Petroleum Refining or Coke Oven Product Manufacturing Sector”. The modification plans to tax at 33% the revenue exceeding 1.2 occasions the reference, i.e. the typical revenue between 2018 and 2021.

From the foundations contained on this modification, researchers didn’t cover their difficulties in establishing sturdy outcomes. “The accounts we now have entry to are restricted. We do not have a view that enables us to get arduous figures as a result of the yr is not over. Attention have to be paid to the voted modification.”, defined Laurent Bach, economist at IPP and co-author of the examine. Contacted by La Tribune, economist co-author of the examine, Paul Dutronc Postel defined: “We had no data on how Bercy calculated these outcomes. Bercy might have entry to forecast accounts for 2022 actions that we do not learn about. Are these built-in accounts on the group stage or simply refinement actions? These teams have additionally recorded losses previously years. Are these losses included within the 2022 outcomes? she thought.

In different phrases, consolidation of this loss in 2022 outcomes might enable the majors to pay much less tax however this follow is regulated by tax regulation. The introduction of aggressive tax optimization might partly clarify this hole between authorities figures and private earnings tax. But right here once more a lot ambiguity stays.

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Nupes taxes can herald between 18 and 44 billion euros per yr

For their half, the deputies of the New Popular Ecological and Social Union (NUPES) additionally proposed to tax the distinctive earnings of those giants. “The answer turned European as a result of different international locations utilized it,” Deputy Underline (LFI) and President of the Finance Committee on the National Assembly Eric Coquerel throughout a presentation to the press. “We are in favor of common taxation to keep away from tax evasion and methods of optimization. Excess value focus is among the many corporations which have benefited essentially the most from value will increase,” Elected officers of Seine-Saint-Denis added.

According to economists on the Institute of Public Policy, Nupes’ invoice could generate between 18 and 44 billion euros, nonetheless a a lot increased return than Bercy.

Obviously, the foundations differ enormously from the amendments proposed by the Executive. The textual content proposed by the left-wing coalition plans to use this tax to teams with a turnover of greater than 750 million euros. They wish to measure earnings on the tax group stage and never simply on an entity.

Additionally, they wish to develop the tax base to sectors aside from refining. Nupes proposed establishing a progressive tax system with charges between 20% and 33%. This charge varies in keeping with the revenue made in comparison with the typical revenue made through the 2017-2019 interval earlier than the well being disaster. “We want cash, mentioned Eric Cockrell. It have to be sought from those that profit most from the distribution of surplus worth. The drawback is that we assist firms in non-targeted methods. » The deputy fears a catastrophe for VSEs subsequent yr He additionally thought of “That we can not think about vitality coverage with out enthusiastic about the environmental divide. France isn’t investing sufficient in environmental change. »

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is requested by Gallery A number of days in the past, Philippe Martin, the previous president of the Council of Economic Analysis and the architect of Emmanuel Macron’s financial program in 2017, confirmed himself in favor of a tax on tremendous earnings. “The tariff protect has benefited the wealthiest. It is an indication of solidarity on this context of vitality disaster. Tax instruments are the best means to make sure redistribution. » The subsequent funds talks promise to be stormy.