MOSCOW (Pakistan Point News / Sputnik - 14th September, 2022) The European Commission proposed on Wednesday that EU member states collect oil and gas companies' excess profits, which exceeded a 20% increase in 2022 compared to the average profits of the previous three years.
"The Commission is also proposing a temporary solidarity contribution on excess profits generated from activities in the oil, gas, coal and refinery sectors which are not covered by the inframarginal revenue cap. This time-limited contribution would maintain investment incentives for the green transition. It would be collected by Member States on 2022 profits which are above a 20% increase on the average profits of the previous three years," a statement read.
