Total threatens to suspend tax refund on superprofits

From September 1, 2022, the service stations of the group Ttotal energies They are packed all over the country. And for good reason: the brand has been posting particularly low prices ever since, thanks to the introduction of a discount of 20 euro cents per liter of fuel distributed. Added to the government discount of 30 euro cents per liter of fuel, this TotalEnergie discount allows you to find 95 unleaded gasoline, sometimes flirting with the €1.3 per liter bar. The French are trying to make the most of it because as of November 1 these two discounts will be reduced: the government discount will be limited to 10 cents, like that of TotalEnergies. And there is currently no plan for a discount after December 31, even if we imagine that a further significant increase in the price of a barrel of oil could force the authorities to help the French again.

At TotalEnergies, in any case, the boss Patrick Pouyanné warns: if the French government were ever to introduce the famous “super-profits tax” of the giants of the oil industry, it would no longer be a question of organizing a discount such as is currently practiced for help French motorists. He is also concerned about similar decisions being made at the European level, now that even UN chief Antonio Guterres is advising taxing oil companies that have been making record profits since the start of the Ukraine crisis.

TotalEnergies fights back

According to Patrick Pouyanné, TotalEnergies will pay no less than 30,000 million dollars in taxes worldwide this year. And almost two billion euros in France, which suggests that the oil group is already contributing to public finances. “We are already doing a lot and if we increase our share of taxes further, we will be forced to lower our share of voluntary aid to motorists”. A small blackmail for the group, therefore, which suggests the possibility of a new discount on the price of fuel in the event of a lenient decision by the tax authorities. We bet that all this will depend above all on the evolution of the oil market: if prices reach new records in the coming months, the idea of ​​taxing TotalEnergies and the rest of the oil giants more is likely to gain consensus.

Leave a Comment

Your email address will not be published. Required fields are marked *