Dutch govt plans new levy for fossil fuel companies

The Dutch government has said that it plans to raise 3.2 billion euros ($3.2 billion) through a new levy on companies in the fossil fuel sector.

The funds will be used to ease the burden of the energy crisis on consumers, Xinhua news agency reported.

The so-called “temporary solidarity contribution” for crude oil, natural gas, coal and petroleum refining companies will be introduced retroactively over the year 2022, according to a letter sent to the Dutch parliament by the Finance Ministry on Tuesday.

In this way, large profits from increased energy prices will be additionally taxed.

The 3.2 billion euros the government expects to raise through the levy will be used to partly compensate for an energy cap for small consumers affected by high energy prices, the letter said. (1 euro 1 US dollar)

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