PLF, Amendment on Super Profits Taxes

While that The conflict over value sharing between TotalEnergies and its employees intensifiesThe state decided to run energy companies. In fact, I have long opposed, at least in form, the establishment of A.S “tax” on super profitsFinally, the government added an amendment to the 2023 budget that goes in this direction. The text thus indicates that the “temporary solidarity contribution” ratified by the European Union, which will cover the financial year 2022-2023, will apply to the results of companies that generate at least 75% of their turnover in the “extraction and mining, petroleum refining sectors or the manufacture of coke oven products.” “.

If validated, the amendment provides for a shareholding rate of 33% applicable to companies operating in the energy sector whose results exceed the average of the past four years by 20%. The amendment “relates only to oil, gas, coal producers or refineries”, explained Bruno Le Maire, on France Info, Tuesday 11 October 2022. In France, only the latter will be concerned, and the contribution will not bring “only” 200 million euros to the state treasury, or “Not much,” says the Minister of Economy and Finance. But as the row at refiners escalates, the symbol matters.

Paris affected 27

Moreover, the government justifies its 180-degree turn with the decision of the twenty-seven. In fact, the EU member states have finally agreed to operate energy producers who benefit from inflation. And so Paris has been increasingly isolated since then The UK recently decided to introduce an exceptional tax 25% on the profits of gas and oil producers. The device is set to bring 5 billion pounds to the state and will finance assistance to low-income families hit hard by accelerating inflation.

Many economists defend the device as well, starting with Maxime Combes, who states that in “economics, for each objective, a dedicated device is needed”. In this case, “energy groups make exorbitant profits, directly linked to rising energy prices, at the expense of households. The state can block prices or allow players to develop as they see fit and then hack away the super-profits made for redistribution,” adds the creator of the MNC Monitor. . He believes that “these two approaches are not contradictory and can complement each other.” This is what the government intends to do. Added to the 2023 draft budget is the government amendment that will be discussed in the assembly on Wednesday, October 12.