what is the tax on superprofits?


Margaux Fodéré, edited by Laura Laplaud

The amending finance bill arrives in the Senate on Monday. With him, a measure that is likely to be debated, that of the taxation of superprofits. Led by centrist senators, this tax would affect companies that made 20% more profits in 2021 than the average for the previous three years.

The amending finance bill arrives in the Senate on Monday. The debates will undoubtedly be less stormy than those of the last week in the National Assembly. However, an amendment, previously rejected by the deputies, will be challenged again: the taxation of superprofits.

A “solidarity” contribution

An idea, carried by the left as well as by centrist senators, which plans to levy multinationals that make huge profits like those announced by TotalEnergie last week. The company more than doubled its second-quarter net profit to $5.7 billion.

The senators therefore propose the establishment of an exceptional “solidarity” contribution on superprofits at 20%, since the objective is to involve large companies to help the French through the crisis of purchasing power.

In concrete terms, this measure targets groups that have made 20% additional profits in 2021 compared to the average of the previous three years. In the text, no sector is excluded, be it banking, transport companies or even energy. The tax would apply to all companies that made windfall profits last year.

A tax applied in other countries

This tax exists in other countries such as Italy where it was confirmed at the end of March at 10%, before being raised to 25% at the end of May. Unlike the proposal being studied from today in the Senate, the Italian tax only targets energy companies.

In the UK, a 25% tax was activated at the end of May. It must finance a major aid plan for the most modest households, which are going through a severe crisis in the cost of living. In this country, inflation reached 10% against 6% in France. Other countries are also considering this type of measure, notably Spain and Germany.


Fr

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