Battle of numbers. The Institute of Public Policies (IPP) updated this Friday the profitability of the tax on “super-profits” foreseen in the 2023 budget project. Its estimate continues to be significantly higher than that foreseen by the Government.
The update by the PPI economists follows “the update of the quarterly national accounts of the branches by INSEE” on November 30, which reduced the value of production from the coke-refining plant, where the government plans to tax the super profits linked to rising energy prices. .
The “temporary solidarity contribution”, according to the name of the Government that refuses to increase taxes, would contribute according to the new calculations of the IPP “between 1,150 and 3,900 million euros, compared to 200 million euros”. estimate’, according to the institute’s statement.
Bercy maintains his estimate
The IPP had estimated in mid-November the profitability of the tax between 6,000 and 7,000 million euros, based on the Insee accounts stopped a month earlier, at the end of October. The “temporary solidarity contribution” plans to tax profits that exceed the average of the 2018-2021 reference period by more than 25% in the energy sector at 33%, instead of 25%.
Bercy, however, questioned the new PPI estimate, just as the ministry had already rejected the first, and reiterated its figure at 200 million. According to Bercy, “the difference between the two estimates is due to the fairly strong simplifying assumptions made by the PPI.” The ministry points out that “a significant part of the added value of the large oil groups is not achieved in France” and does not fall within the scope of the tax.
The IPP has also revised downwards, although to a lesser extent, the tax proposed by the leftist alliance Nupes, which is not limited to the energy sector, but would affect all large companies with a turnover of more than 750 million euros and whose benefits are more than 25% higher than the average of those made between 2017 and 2019. This tax would yield between 15,700 and 41,000 million euros, compared to a range of 18,800 to 44,400 million euros previously estimated.
Source: BFM TV
