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Netherlands Introducing Temporary Solidarity Contribution on Surplus Profits in the Fossil Fuel Sector

03 November 2022

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Proposed Changes

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Netherlands

The Dutch Ministry of Finance has published a letter to parliament on a draft bill for the introduction of a temporary solidarity contribution on the surplus (excess) profits of companies active in the crude oil, natural gas, and petroleum refining sectors in accordance with Council Regulation (EU) 2022/1854 on an emergency intervention to address high energy prices. The solidarity contribution will apply to companies generating at least 75% of their turnover from economic activities in the field of the extraction, mining, refining of petroleum, or manufacture of coke oven products. The solidarity contribution amounts to 33% of the surplus profit...