EU Member States formally adopt electricity revenue cap and solidarity contribution of fossil fuel sector

11 October 2022|Tax Alerts, Legislation & Policy, National/Federal Taxation|European Union

On 6 October 2022, the European Union (EU) formally adopted the new Regulation introducing emergency measures to mitigate high energy prices and the risk of supply shortages in Europe.
The two tax-related measures include a revenue cap on infra-marginal electricity producers and a temporary solidarity contribution over the surplus profits of companies in the crude petroleum, natural gas, coal, and refinery sectors.
Some EU Member States have expressed concern that the adoption of the Regulation u…

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