TotalEnergies is expected to pay $30 billion in taxes worldwide in 2022

TotalEnergies is expected to pay $30 billion in taxes worldwide in 2022

Before the deputies of the flash mission on the profits of the companies, the general director of the company underlined the efforts of his group to return the purchasing power to the French.

Facing the deputies, Patrick Pouyanné did not let it pass. Questioned, Wednesday morning, by the elected members of the flash mission on the “super profits” of oil and gas companies, the CEO of TotalEnergies defended his company’s elections, as well as the participation of the energy giant in the Public finances.

The hearing was expected: accused by certain voices on the left of tax optimization, the firm contributes heavily to the accounts of the States, argued the businessman, assuring that he paid “income tax, in the countries where we do“. In 2020, a year marked by Covid and the fall in oil prices, TotalEnergies had paid about 6,000 million dollars in “various taxes on profits and production“, accurate. An amount that later jumped to “16 billion“, a year later, and that should go up to “30 billiondollars this year. “the vast majorityof these sums are paid in oil-producing countries, wheretaxation adapts to oil prices“, indicated Patrick Pouyanné, speaking of a “income captured by the countries […] that produce natural resources“.

In France, on the other hand, the activities of TotalEnergies are much less profitable, even recording significant losses, the general director clarified. Beyond corporate tax, however, the company pays “a contribution […] about 1.6 billion to 1.9 billion euros per year to the French budget“, including around a billion euros in contributions to social security.

A “rush” in the stations with the reinforced discount

Attacked by members of the flash mission, the CEO of TotalEnergies also highlighted the company’s efforts to restore the purchasing power of the French. The first version of his discount on prices at the pump, 10 cents, resulted in a “training effectamong its competitors, as well as a jump in the volumes oftwenty%“. In the end, this operation cost”around 100 million eurosto the group. The improved version of the refund, in force since September, resulted in a “French fever in the seasons“with a bang in attendance”80%» the first week, an overwhelmed logistics system and long queues.

After two weeks, the turnout is still massive, around 30% in volume, added the businessman, who acknowledged that logistics are still complex to manage. “we have been overwhelmed“, summarized. “I don’t win anything […]. We are, after two weeks, at a cost of about 71 million euros for the company“, described Patrick Pouyanné, adding that if the private clients were numerous, those professionals, who had, for example, a professional card, “Leave», annoyed by the queues in front of the stations.

At the moment, the successive discounts have thus cost your company 171 million euros, an amount that will increase as long as the device remains active. “You tell us: You are making excessive profits on refining [en France]because we are using them to finance the operation of the sales“Defended the head of TotalEnergies.

While the elected deputies of the Nupes present this Thursday their proposal for a shared initiative referendum (RIP) aimed at further taxing the “super profits” companies, Patrick Pouyanné warned about the consequences of “tax projects“.”Our country suffers from deindustrialization […]. Everything you do in Parliament is heard by all investors“, launched the deputies, highlighting that “signs that would be unfavorableinvestment risk that limits the attractiveness of nations.

Mission hearings will continue through the end of the month. The day before, the CEO of Engie, Catherine MacGregor, had explained that her group expected recurring net income of around 4 billion euros in 2022, a strong increase in one year, an evolution that is explained in a third by aprice effectin gas Your company remains convinced of the central role of this energy for “very very long“: “It would be utopian to say that we are going to electrify all uses“, assured the deputies.

SEE ALSO – Super profits: “One can question the fairness of this situation.says Yaël Braun-Pivet

#TotalEnergies #expected #pay #billion #taxes #worldwide

Leave a Comment

Your email address will not be published. Required fields are marked *