2023-08-25 09:30:00
An arm of fiscal iron
The government, as part of the project finance law 2024, plans to introduce a new tax for motorway concessionaires. This decision is part of an approach to financing the ecological transition, in particular to support investments in rail. Clément Beaune, the Minister of Transport, recently said that this tax would have “no impact” on toll rates. However, this announcement was not well received by dealers. Pierre Coppey, Chairman of Vinci Autoroutes, said in The echoes : « We are ready to go to litigation “. Eiffage, for its part, insists on the respect of the contracts in force.
The concessionaires rely on the fact that the concession contracts provide for the neutralization of an increase in taxation. This clause is intended to prevent the State from offsetting by tax what it has already granted by the contract. This position is reinforced by a statement by Emmanuel Macron in 2015then Minister of the Economy, ensuring the stability of the specific tax framework for motorway companies ».
The nature of these motorway concession contracts
The concession contracts signed between the State and the motorway companies are at the heart of the debate. These contracts, which for some extend until 2036, are the only assets of the concessionaires, thus allowing them to contract debts. Compliance with these agreements is therefore essential for them. However, Clément Beaune’s firm believes that the “stability of the tax landscape” clauses only apply under certain conditions. According to them, the current contracts would not provide “the neutralization of any increase in taxation”.
The APRR group, one of the main industry players, calls for a meeting with all stakeholders to clarify the situation. They want a commission to be set up between the government, the motorway companies and the Transport Regulatory Authority (ART) to bring objectivity to the debate. Moreover, they dispute the idea of a “super-profitability of motorways”, relying on an ART report which does not conclude that the companies are excessively profitable. However, ART pleads for changes, particularly in terms of the framework for negotiations with the State.
1692956428
#pay #toll