Soaring prices fill state coffers

Soaring energy prices have brought money into state coffers. Over the first eight months of the year, VAT on gas and electricity brought in 44.8 million euros to the public authorities, against 20.1 million last year over the same period, said Wednesday Yuriko Backes (DP), Minister of Finance, in response to a question from MP Gilles Roth (CSV).

The CO2 tax, like all excise duties, is a fixed amount per litre. Revenues therefore do not evolve favorably for the State according to world prices. But the VAT applied to this new tax has jumped from 792,232 to 1.44 million euros between 2021 and 2022 (+82%). This is explained by the increase in the CO2 tax, on January 1, now set at 25 euros per tonne of CO2, pending being increased to 30 euros in 2023.

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