The levy will reportedly apply to profits that are 20% above the average of the previous three years The German government plans to introduce a special levy to skim off 33% of extra profits made by companies during the current energy crisis, Reuters reported on Wednesday, citing finance ministry sources. The levy, called the “EU energy crisis contribution,” would reportedly be implemented by the end of the year. It would affect oil, coal, and gas companies and refineries whose profits for this and next year exceed 20% or more their 2018-2021 average. The tax could reportedly generate revenue of between €1 billion
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