The American group, whose profits have exploded since the war in Ukraine, disputes the legality of the “temporary solidarity contribution” adopted by the EU.
MO12345LEMONDE with AFP
The US oil company Exxonmobil seized the European Union court (CJEU) against the “superprofits” of the energy giants decided by Brussels, which could according to the company “discourage investments”, on Wednesday. /p>
Adopted at the end of September and officially called “temporary solidarity contribution”, this charge is supposed to be paid by the producers and distributors of oil, gas and coal which have achieved enormous benefits thanks to the outbreak of consecutive courses War in Ukraine. The system allows the EU States to collect 33 % of the taxable profits of 2022 higher than 20 % from the average of the years 2019-21, in order to redistribute them to households and companies facing the explosion of invoices.
By proposing it, the European Commission had taken care not to use the word “tax” because any new tax provision on a European scale would have required the unanimity of the twenty-seven, more complicated and risky procedure than Adoption by qualified majority. The idea was notably to avoid procedures like that initiated on Wednesday before the CJEU in Luxembourg by the German and Dutch subsidiaries of Exxonmobil. The CJEU can be seized by a company when it considers that an EU institution has undermined its rights.
“We are aware that the energy crisis in Europe weighs heavily on families and businesses, and we strive to increase the energy supply of Europe”, underlines a company spokesperson, Casey Norton , in a message sent to the France-Presse agency (AFP). But the taxation of “superprofits” is “counterproductive,” he says. She “will undermine investors’ confidence, will discourage investments and increase dependence on imports of energy and petroleum products”, he adds.
“Invest for the green energy transition “
The Commission “took note of the complaint filed” by Exxonmobil, but “maintains that the measure in question was in full compliance with the law of the EU”, reacted to AFP a spokesperson for the European executive. According to her, the twenty-seven were right to resort to an emergency text (that is to say, adopted directly by states without consultation with the European Parliament) in the name of “solidarity” in the face of the energy crisis.
During a presentation to investors in early December, ExxonMobil’s financial director had assessed that the European tax would cost the group “more than $ 2 billion”. She had also specified that the final amount would depend on the way in which the member states integrate this measure in their budget 2023. In total, Exxonmobil posted only the second and third quarters a net profit of $ 37.6 billion.
The mechanism “targets excessive benefits in oil, gas, coal”, and therefore “aims to maintain the incentives to invest in the green energy transition”, while the funds taken will be exclusively donated to consumers and businesses Vulnerable and energy-consuming, said this spokesperson. Brussels estimates that the system could bring some 25 billion euros to the member states.
The American president Joe Biden had denounced these “war profits” at the end of October, deploring that the profits released by hydrocarbon companies were donated to the shareholders while the prices for the pump for motorists remained high.