Turin, 24 August (LaPresse) – “The taxation of windfall profits falls within the remit of the Member States, which may take action on the basis of national legislation.” This was stated by a spokesperson for the European Commission, following calls made a few days ago by Italy and five other countries for the introduction of a tax on oil companies’ windfall profits. “Naturally, such measures must comply with European law. Member States can already make use of their national tax powers to address costs related to social equity and, if they deem it appropriate, introduce measures such as the taxation of windfall profits, as set out in the AccelerateEU communication of 22 April,” the spokesperson added. The Commission “will respect the decisions of Member States and provide assistance and best practice guidance on national measures, as well as assessing their impact on the single market”.
EU Commission: “Taxation of windfall profits falls within the remit of Member States”
Turin, 24 August (LaPresse) – “The taxation of windfall profits falls within the remit of the Member States, which may take action on the basis of national legislation.” This was stated by a spokesperson for the European Commission, following calls made a few days ago by Italy and five other countries for the introduction of a tax on oil companies’ windfall profits. “Naturally, such measures must comply with European law. Member States can already make use of their national tax powers to address costs related to social equity and, if they deem it appropriate, introduce measures such as the taxation of windfall profits, as set out in the AccelerateEU communication of 22 April,” the spokesperson added. The Commission “will respect the decisions of Member States and provide assistance and best practice guidance on national measures, as well as assessing their impact on the single market”.