On 14 September, European Commission President Ursula von der Leyen delivered her 2022 State of the Union address setting out two tax-related measures targeting companies in the energy sector:
a revenue cap to a maximum of €180 per MWh on low-cost electricity generating companies; and
an EU-wide temporary ‘solidarity contribution’ which will be levied at a rate of at least 33% over the ‘surplus taxable profits’ of companies in the oil, gas, coal and refinery sectors.
Member states will consider the proposals during the extraordinary Energy Council meeting on 30 September where it can be passed with a qualified majority vote in the Council. Once adopted, the regulation will be directly applicable in those member states for one year.
On 14 September, European Commission President Ursula von der Leyen delivered her 2022 State of the Union address setting out two tax-related measures targeting companies in the energy sector:
a revenue cap to a maximum of €180 per MWh on low-cost electricity generating companies; and
an EU-wide temporary ‘solidarity contribution’ which will be levied at a rate of at least 33% over the ‘surplus taxable profits’ of companies in the oil, gas, coal and refinery sectors.
Member states will consider the proposals during the extraordinary Energy Council meeting on 30 September where it can be passed with a qualified majority vote in the Council. Once adopted, the regulation will be directly applicable in those member states for one year.
