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OMV Schwechat Refinery in Austria
Photo: Roland Schlager / dpa
Austrian oil and gas companies have to pay taxes on their additional profits from the Ukraine war – at up to 40 percent.
The government in Vienna announced an excess profit tax for this year and next, which is already planned or decided in a similar form in other EU countries.
In addition, revenues from Austrian electricity generators are skimmed off by the state above certain thresholds.
The rise in gas and electricity prices in the course of the war caused the companies to "make their coffers ring," said the Green Party Vice Chancellor Werner Kogler.
"It's actually a war dividend," he said of these so-called chance wins.
Therefore, justice must now be established for consumers.
The average annual profit since 2018 plus 20 percent is used to calculate the planned »energy crisis contribution«.
Anything that oil and gas companies earn beyond that is taxed at 40 percent.
If companies invest in renewable energy, the rate drops to 33 percent.
For power generators, the revenue is capped at 180 euros per megawatt hour.
Without investments in renewable energy, the limit drops to 140 euros.
With this levy and the excess profit tax, the government wants to finance measures to cushion inflation.
Finance Minister Magnus Brunner (ÖVP) expects revenues of between two and four billion euros.
ani/dpa
