The European Commission is reportedly assessing the potential reintroduction of a temporary windfall profit tax on oil and gas companies, in response to rising energy prices linked to geopolitical instability in the Middle East. The measure is being considered following a request from 5 Member State
BRUSSELS | 13 APRIL 2026
EU Considers Reintroduction of Windfall Energy Taxation
The European Commission is reportedly assessing the potential reintroduction of a temporary windfall profit tax on oil and gas companies, in response to rising energy prices linked to geopolitical instability in the Middle East. The measure is being considered following a request from 5 Member States, namely Austria, Germany, Italy, Portugal and Spain, calling for action to ensure a “fair distribution of the burden” arising from increased energy costs. The Commission has not yet presented a formal legislative proposal, but the potential tax would draw on the precedent of the 2022 EU “solidarity contribution”, introduced during the natural gas crisis following Russia’s invasion of Ukraine. That mechanism generated approximately €28 billion in additional public revenues. While the Commission has indicated that current conditions differ from those in 2022, it has confirmed that experiences from that period are being taken into account in ongoing policy discussions. A key issue under consideration is the potential scope of any new measure, including whether it could extend to foreign profits of multinational fossil fuel companies. At this stage, it remains unclear whether such an approach would be pursued, given the complexities associated with taxing non-EU sourced income and the need for Member State agreement in tax matters. The renewed focus on windfall taxation arises amid a sharp increase in energy prices, driven by supply disruptions linked to the Iran conflict. Estimates suggest that the crisis has already resulted in significant fiscal costs for Member States, including approximately €9 billion in energy price mitigation measures and a further €13 billion in additional fossil fuel import costs. Some estimates indicate that excess profits in the fuel supply chain could reach €20 billion in 2026, rising to €51 billion if extended to upstream producers. Industry representatives have raised concerns regarding the potential impact on investment and energy security. They argue that repeated extraordinary taxation could create regulatory uncertainty, discourage long-term capital expenditure, and accelerate refinery closures, thereby increasing reliance on imports. Environmental stakeholders have generally supported windfall taxation, suggesting that revenues could be used to fund targeted support measures and accelerate the transition to renewable energy.
FISC to Discuss 28th Regime & Tax Framework for EU Financial Sector
The European Parliament’s Subcommittee on Tax Matters will meet this week on on 16 April 2026 in Brussels to examine amendments to the draft report on a coherent tax framework for the EU financial sector, alongside discussions on the feasibility of a 28th tax regime for EU companies. FISC will focus in particular on amendments to the draft report on “A coherent tax framework for the EU’s financial sector”, presented by rapporteur Matthias Ecke (S&D). A total of 224 amendments have been tabled, reflecting a wide range of positions on the structure and objectives of financial sector taxation in the EU. The amendments address the issue of tax fragmentation, with contrasting views on whether divergent national tax measures, including financial transaction taxes, bank levies and other sectoral taxes, undermine the Single Market or reflect legitimate policy choices and tax competition between Member States. The amendments also revisit the question of an EU-wide Financial Transaction Tax, with positions ranging from support for its role in ensuring a fair contribution of the sector and as a potential own resource, to concerns regarding its impact on market liquidity, investment and competitiveness. In addition, several amendments consider the need for enhanced EU-level coordination, including proposals relating to minimum taxation, anti-avoidance measures and increased transparency, while others stress the importance of maintaining Member State competence in direct taxation. The amendments further illustrate differing approaches to the VAT exemption for financial services, with some proposals emphasising its role in creating distortions, hidden costs and competitive disadvantages, while others highlight its function in avoiding administrative complexity and preserving competitiveness. The amendments also address emerging issues such as the tax treatment of new financial instruments, the role of VAT grouping, and the need to reduce compliance burdens and legal uncertainty for cross-border financial activities. These amendments will form the basis for negotiations on compromise texts ahead of a planned vote in the ECON Committee in May 2026. The Subcommittee will also consider the draft report on the “feasibility of a 28th tax regime and its potential to support EU competitiveness”, presented by rapporteur Ľudovít Ódor (Renew). The report explores the potential for an optional EU-wide framework, the so-called ‘EU Inc.’, aimed at reducing regulatory and tax fragmentation and facilitating cross-border operations. Tax elements under discussion include a common corporate tax base, cross-border loss relief, simplified VAT procedures and withholding tax exemptions, as well as coordinated incentives for research and development and reinvestment.
OECD Conclude Series of Joint Capacity-Building Workshops on Transfer Pricing Simplification
The OECD and African Tax Administration Forum recently concluded a series of joint capacity-building workshops focused on transfer pricing simplification, with participation from over 130 tax officials representing 17 African countries. Delivered in French, the workshops brought together officials from francophone African jurisdictions alongside experts from ATAF, the OECD, Switzerland and Zambia. The training centred on the simplified approach for baseline marketing and distribution activities (Amount B), introduced by the OECD/G20 Inclusive Framework on BEPS and incorporated into the OECD Transfer Pricing Guidelines in February 2024. Sessions addressed the scope and objectives of Amount B, the associated pricing framework, and the use of the OECD Pricing Automation Tool. Participants also examined the African Tax Administration Forum's Suggested Approach to Drafting Transfer Pricing Legislation to support domestic implementation. The workshops included interactive discussions, regional case studies and peer learning, with a focus on practical challenges faced by African tax administrations, including resource limitations and difficulties in accessing reliable comparables. Discussions highlighted the potential of simplified transfer pricing approaches to improve tax certainty, reduce disputes and support domestic revenue mobilisation. The OECD indicated that further workshops and country-specific technical assistance will be provided in response to demand, as part of ongoing efforts to strengthen tax capacity and improve the administration of transfer pricing rules across the region.
Last Places for CFE Forum 2026: "Tax Policy Under Pressure: Strategy, Coherence & Trade-Offs" on 23 April 2026
The CFE Forum 2026 will take place next week on 23 April 2026 in Brussels under the theme “Tax Policy Under Pressure: Strategy, Coherence & Trade-Offs.” The Forum will examine how tax systems are responding to a range of structural pressures, including geopolitical tensions, renewed trade measures, increased cross-border mobility and evolving compliance and anti-money laundering frameworks. The programme will feature three panel discussions addressing key areas where trade-offs are emerging in practice. The first panel on global pressures on tax policy will include Benjamin Angel (European Commission), Daniel Bunn (Tax Foundation), Edwin Visser (PwC), a representative from the OECD and Helen Pahapill (UN Framework Convention on International Tax Cooperation), moderated by Saim Saeed (Bloomberg Tax). The second panel will focus on cross-border coherence between direct and indirect taxation, with speakers including Margaux Smets (Belgian Ministry of Finance), Jan-Willem Kunen (Loyens & Loeff), Trudy Perie (CFE), and Fernando Matesanz (International VAT Association), moderated by Jeremy Woolf (Pump Court Tax Chambers). The third panel will address ethics and transparency in a shifting regulatory landscape, including issues of professional privilege, DAC-related disclosure obligations and AML supervision. Speakers include Raluca Pruna (European Commission, DG FISMA), Henrik Paulander (European Commission, DG TAXUD), Ken Siong (IESBA), Aleksandar Ivanovski (CFE Tax Advisers Europe) and Johan Barros (Accountancy Europe), with moderation by Eduardo Gracia Espinar (Ashurst). The Forum will bring together policymakers, international organisations, tax administrations, academics and practitioners to consider how competing objectives such as simplification, competitiveness, revenue protection and transparency can be balanced in the design and governance of tax systems in Europe and beyond. Register now to secure your place.
EU Commission Publishes First CBAM Certificate Price for 2026
The European Commission published the first quarterly price for Carbon Border Adjustment Mechanism (CBAM) certificates for Q1 2026 on 7 April 2026, marking a key milestone in the operational implementation of the CBAM framework. For 2026, CBAM certificate prices are determined on a quarterly basis, with four prices set across the year. Each price applies to emissions embedded in CBAM goods imported into the EU during the relevant quarter. The price is calculated as the average of EU Emissions Trading System (EU ETS) auction clearing prices over that quarter, ensuring alignment with the EU carbon market. Although authorised CBAM declarants will only be required to purchase CBAM certificates from February 2027, covering their 2026 imports, the Commission has begun publishing prices in advance. This approach is intended to enhance transparency, provide stakeholders with reliable reference points, and reduce the risk of divergent or unofficial market estimates. The remaining publication dates for 2026 are scheduled as follows: 6 July 2026 (Q2), 5 October 2026 (Q3), and 4 January 2027 (Q4). Each quarterly price is calculated during the first calendar week of the following quarter and published on the first working day of the subsequent week via the Commission’s CBAM webpage and CBAM Registry. From 2027 onwards, the Commission will move to a weekly calculation and publication of CBAM certificate prices. The Commission is also progressing operational preparations for the mechanism, including the development of a Common Central Platform to manage the sale and repurchase of CBAM certificates.
The selection of the remitted material has been prepared by: Dr. Aleksandar Ivanovski & Brodie McIntosh
Fonte: CFE Tax Advisers Europe. Pubblicazione originale del 2026-04-13.