Energy industry: Excess profit tax should come after all

Federal Finance Minister Lindner had long rejected it, but now the excess profit tax for the energy industry is coming. According to information from ARD Capital Studios an additional tax rate of 33 percent is planned.

Germany, too, wants to introduce an excess profit tax for companies in the energy industry – in addition to skimming off random profits in the electricity sector. According to plans by the Federal Ministry of Finance, the planned additional tax should affect all companies active in the oil, gas, coal and refinery sectors.

In concrete terms, the plans are as follows: The companies should pay extra tax on profits this year and next, which are more than 20 percent above the average profit of previous years. As an additional tax rate, 33 percent is provided, as can be seen from the so-called formulation aid that the ARD Capital Studio present. The newspaper “Die Welt” first reported on it.

Lindner had resisted for a long time

Federal Finance Minister Christian Lindner had long vehemently rejected an excess profit tax for energy companies. The change of heart of the FDP politician is now probably due to pressure from the European Union.

At the beginning of October, at the suggestion of the energy ministers, the EU states decided not only to take energy-saving measures but also to introduce a temporary solidarity levy for the fossil fuel sector. The Federal Ministry of Finance bases its proposal on the minimum requirements of the EU. It expects additional income of one to three billion euros. The Greens have already announced that they will push for a higher burden.