The oil group would have to pay this contribution in six countries of the European Union if it were implemented everywhere.
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Jackpot for the European Union. TotalEnergies estimates “at one billion euros the impact of the European solidarity tax” in 2022, said the group’s chief financial officer, Jean-Pierre Sbraire, during a meeting with analysts after the publication of the group’s results for the 3rd quarter, Thursday, October 27.
“We will be impacted by this European solidarity tax in six countries in Europe: France, Germany, Belgium, Luxembourg, mainly on our refining activities, as well as the Netherlands and Denmark” for exploration and production activities, said the official.
While the debate on the “superprofits” of oil and gas companies is in full swing in Europe, the European Commission declared at the end of September that it wanted to demand a “temporary solidarity contribution” to the producers and distributors of gas, coal and oil who are making massive profits thanks to the surge in prices following the war in Ukraine.
It must be set at 33% of the share of the superprofits of 2022, i.e. profits more than 20% higher than the average for the years 2019-21, while taking into account the measures taken by the States taxing these benefits already. France has transposed it into its 2023 budget.
The Commission took care not to use the word “tax”, because any new tax provision on a European scale would have required the unanimity of the Twenty-Seven, a more complicated and risky procedure than adoption by qualified majority.