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

|Tax Alerts, Legislation & Policy, Na ...|European Union
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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