Italy, Germany, Spain, Portugal and Austria ask EU to tax energy surplus profits
Change
Italy, Germany, Spain, Portugal and Austria sent a joint letter to the European Commission requesting an EU-wide contributory tax on excess profits from energy companies that would revive the 2022 solidarity contribution and target large multinational oil firms including profits earned abroad.
Why it matters
The ministers insist national excise moves must be paired with a coordinated EU instrument, which constrains member states from financing temporary consumer relief solely through unilateral measures. That demand raises the requirement for a common legal basis and agreement on levy scope and revenue-sharing before any EU-coordinated relief can be implemented.
Implications
- • European Commission tax and legal teams must begin drafting a legal framework and technical design for an EU-wide contributory levy on excess energy profits — failing to deliver draft measures will leave no coordinated route for financing temporary consumer relief requested by the five member states.
- • Finance ministries of Italy, Germany, Spain, Portugal and Austria must produce harmonised proposals on levy scope, revenue allocation and legal justification to present to the Commission — not coordinating will weaken the prospects of securing an EU-level instrument.
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