Which countries have already taxed the super profits of companies under debate in France?
About $6 billion. This is the web revenue achieved by TotalEnergies in the second quarter of 2022, as introduced by the group on Thursday, July 28. A steadiness sheet that greater than doubled the revenue in the second quarter of the earlier yr, towards the backdrop of the conflict in Ukraine and a deflationary backdrop that angered the public and will reignite the debate over “super profits.”
First supported by Nupes and the National Rally (RN), the concept of a tax “surplus” large crew With the majority of the president and the Les Republicans (LR) get together discovered an echo, however was rejected by some votes by the National Assembly on 23 July, throughout the examination of the draft amendments to the Finance Law.
The @governmentFR Rejected distinctive taxation of profits related to power will increase
Here are the outcomes revealed by TotalEnergies
↗️ Profit at finish of June 18.7 billion, ×3 in comparison with 06/21
Compared to the 500 million allotted to cut back costs at the pump pic.twitter.com/jTDM6kZkcH
— Valerie Rabault (@Valerie_Rabault) July 28, 2022
If, on the French aspect, the head of authorities, Elisabeth Bourne, closes the door on Thursday to taxing extra profits, some countries overseas are fascinated by it. And others have even plunged. Franceinfo has returned to the manner France’s neighbors have seized on the controversy.
In the UK, oil giants are taxed on their profits
The UK’s Liberal Parliament handed the legislation in late May. To finance a 15 billion pound (about 17.5 billion euro) plan for the most deprived households, the nation determined after weeks of negotiations to introduce a brief tax of 25% on the profits of oil and fuel giants like BP.
“As gas costs return to traditionally low ranges, the leverage can be phased out with the introduction of a sundown clause in the laws”, defined Rishi Sunak, then finance minister, as we speak in the operating to interchange Boris Johnson as prime minister. To encourage power switch, The measure in query supplies for a discount in taxes “80% liberal funding allocation” If focused power giants make investments in low carbon power.
This short-term tax will fund a 3rd of the new social system, bringing in round £5 billion over the subsequent twelve months. Almost one in eight of the UK’s most weak households will obtain a minimum of £1,200 in 2022, together with a one-off £650 dwelling bills fee, the UK Treasury introduced at the finish of May.
In Spain, a tax on banks and electrical energy companies
The nation was plunged in mid-July, when the head of Spain’s authorities, Pedro Sánchez, introduced that distinctive taxes could be imposed on power and monetary companies in 2023 and 2024. This, in flip, is the worth to permit for inhabitants development
“This authorities is not going to tolerate companies taking benefit of the disaster to counterpoint themselves.“, the Socialist Prime Minister assured the Spanish Chamber of Deputies. The authorities expects to chop round 7 billion euros between 2023 and 2024 thanks to those taxes, with an estimated revenue of round 2 billion euros per yr. For electrical energy companies and 1.5 billion euros. Banks
The announcement was made as half of a sequence of social measures taken to guard buying energy towards inflation, which in June exceeded 10% in a yr. These embody gas subsidies, decreased VAT on electrical energy and elevated retirement pensions. Pedro Sánchez famous in early July that “dAs costs began to rise (…) Spain collected 30 billion euros” To help its enterprise and shoppers, “equal to 2.3% of its gross home product”.
Targeting main companies in the power sector in Italy
For its half, Italy introduced at the finish of May that it might elevate its tax on superprofits to 25%, the identical fee as in impact in the UK. At the finish of March, the nation determined by decree to introduce a ten% tax on the profits of giant companies in the power sector – similar to Enel or Eni – thanks to cost will increase brought on by the conflict in Ukraine. “Let’s redistribute this cash to companies and households who’re in dire straits.”Italian Prime Minister Mario Draghi introduced at the moment.
The authorities expects to achieve 11 billion euros from this tax. But the estimate has been repeatedly challenged by companies, which say their profits might not be as excessive as oil and fuel costs counsel. The cash raised for this new tax is meant to finance a 14 billion euro bundle of measures meant to cut back power worth hikes for households and companies. The envelope particularly features a bonus of 200 euros for the 28 million Italians with an annual earnings of lower than 35,000 euros.
Inflation stood at 8% in June of the yr, up one level from the earlier month, in accordance with knowledge supplied by Italy’s nationwide statistics institute Istat (in English). It reached its highest stage since January 1986.
In Germany, an ongoing reflection on the tax on refineries
German Vice-Chancellor Economy Minister Robert Habeck, a member of the Greens, has come out in favor of a tax on refineries. He plans to current a textual content subsequent week attacking the profits of large companies.
The German authorities has proposed this answer to the failure to cut back gas taxes On June 1, Chancellor Olaf Scholz introduced an distinctive gas concession for 3 months, To cut back family payments in the face of rising power costs. But this concession didn’t have the anticipated impact on motorists. “Since early June, gas costs at the pump have not stopped rising and have discovered themselves, For diesel as for gasoline, about 2 euros per liter, i.e. the normal stage earlier than this measure is named”Reminded franceinfo at the finish of June. Year-over-year inflation reached 7.5% in July, down 0.1 share factors from the earlier month.