Tax Measures for Tackling the Increasing Energy Prices in Europe

In the wake of the energy crisis, the European Union and national governments have implemented various fiscal measures to relieve the strain on economies and help EU industries and citizens deal with rising energy prices. Tax is one of the most effective short-term solutions to level the playing-field whenever energy prices soar.

By the end of 2022, the EU had introduced several temporary measures such as a “solidarity contribution” levied on the “surplus taxable profits” of companies in the oil, gas, coal, and refinery sectors; as well as a revenue cap on companies generating low-cost electricity from wind, solar, and nuclear sources.

An update from Austria, Bulgaria, Germany, Poland, Sweden, and the United Kingdom

In the overview below, we delve deeper into some Member States’ national implementation of the EU measures, other national tax mechanisms, and also the measures adopted in the UK.

Austria
Bulgaria
Germany
Poland
Sweden
United Kingdom