Six EU countries are intensifying calls for a bloc-wide windfall tax on oil companies as profits surge amid the war in the Middle East, according to a letter seen by Euronews.
The finance ministers of Germany, Italy, Austria, Poland, and Portugal, along with Spain's economy minister, sent a joint letter to Ireland's finance minister, whose country holds the rotating EU presidency. The ministers urged that a levy be added to the agenda for next month's meeting of EU finance chiefs in Dublin.
Windfall tax does not seem fair at first sight, but a capped profit can be a very good thing is the profit is made from a negative event where a lot of people suffer.
But I'd argue just filling a state's treasury with it doesn't really do anything to those affected by the negative event. These tax revenues should in part directly flow to the people in need, not only in the countries that collect the tax but also to the people who are affected by this war. Controversly, I think a part should go to aid to the people in Iran. Less controversely, also to the people in Palestine, Lebanon and Jordan (because of the refugees).