The effectiveness and distributional consequences of excess profit taxes or windfall taxes in light of the Commission's recommendation to Member States

Nicolay, Katharina ; Steinbrenner, Daniela ; Wölfing, Nikolas ; Spix, Julia

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URN: urn:nbn:de:bsz:180-madoc-643015
Document Type: Report
Year of publication: 2023
Place of publication: Mannheim
Publishing house: European Parliament
Publication language: English
Institution: Business School > Managerial Accounting (Juniorprofessur) (Wölfing 2019-2022)
Subject: 330 Economics
Abstract: This study analyses the design and functioning of windfall profit taxes for energy suppliers in the EU. Based on profit data from 2021, the estimated revenue gains from the solidarity contribution amount to 4.4 bn EUR for the selected sample of firms. Applying the revenue cap to power prices of 2022 suggests a tax revenue of 106 bn EUR. The actual tax revenue might diverge substantially from these numbers due to different energy price levels during the application period. The revenue can be redistributed according to the Member States' priorities to face hardship of the energy crisis. Despite efficiency in theory, investment distortions might arise if investors expect the tax instrument to be extended to other sectors. This document was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the Subcommittee on Tax Matters (FISC).

Dieser Eintrag ist Teil der Universitätsbibliographie.

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