European Commission denies plans to impose a tax on windfall profits of energy companies

Brussels, 18 Sep (KUNA) -- The European Commission denied any current intention to propose a unified EU-wide tax mechanism on the exceptional profits earned by energy companies, clarifying that such decisions fall within the competence of member states.

European Commissioner for Economic Affairs Valdis Dombrovskis stated upon arriving at the EU Finance Ministers' meeting in the Irish capital, Dublin, on Friday that "part of the matter lies with the member states," explaining that member states are free to make decisions regarding the taxation of exceptional profits and that the Commission is "certainly ready to participate in discussions if necessary."

He added, "At this stage, we are not putting forward an EU-level proposal, but there is certainly the possibility for member states to move forward on this matter."

Dombrovskis' remarks come as EU Finance Ministers discuss today the possibility of imposing a unified tax on the exceptional profits of energy companies benefiting from the sharp rise in oil and gas prices following the closure of the Strait of Hormuz, with further discussions on the topic expected during the Finance Ministers' meeting in October. (End) ARN / AMS