China News Service, December 30 (Xinhua) According to a Reuters report on the 29th, the US energy giant Exxon Mobil is suing the European Union, asking the EU to cancel a new windfall tax for the oil group, saying that the EU does not have a windfall tax law. authority.
The global oil industry has reaped record profits this year thanks to high energy prices, but this has fueled global inflation and prompted calls for further taxes on the industry.
On the 28th local time, Exxon Mobil's Dutch and German subsidiaries filed a lawsuit with the EU General Court in Luxembourg, demanding that the EU cancel the new windfall profit tax.
Exxon Mobil spokeswoman Kathy Norton said the windfall tax measure would only be "counterproductive," hindering investment plans and undermining investor confidence.
Norton said the windfall tax would be taken into account by Exxon Mobil in the future when considering multibillion-euro investments in Europe's energy supply and transition.
The European Commission said it took note of the lawsuit.
“It is now up to the ordinary courts to rule on the case. The Commission maintains that the measures are in full compliance with EU law,” European Commission spokeswoman Arianna Podesta said in a statement.
It is reported that in September, EU countries approved emergency taxes on excess profits of energy companies, including a tax on excess profits of fossil fuel companies in 2022 or 2023, and a tax on low-cost power producers due to soaring electricity costs. Excess income is taxed.
The EU expects the "temporary solidarity contribution" from these windfall taxes to generate around 25 billion euros in public revenue, which will be redistributed by EU governments to tackle the energy crisis.