German Finance Minister Lars Klingbeil (SPD) is reportedly examining the possibility of introducing a “super‑profit tax” on the crisis profits of petroleum companies. According to the “Spiegel”, the measure would aim to benefit commuters. Klingbeil wants the levy to be computed together with other comparable instruments. The Vice‑Chancellor is hoping that the EU Commission will propose a regulation that is applicable to all 27 member states, as the ministry noted.
Even before any new tax, many citizens are already feeling the economic strain of the Iran war. The sharply higher fuel prices are hitting commuters, families and small businesses the hardest.
The proposed super‑profit tax is modeled on a rule that existed at the peak of the energy crisis following Russia’s 2022 attack on Ukraine. At that time the state taxed prices that were 20 % above the average of the preceding two years at a rate of 33 %. That temporary measure brought more than €2 billion into the federal coffers.
Klingbeil plans to use the revenue from the super‑profit tax to raise the commuter allowance, according to the magazine. He expects that the heads of government from the 27 EU member states, who will meet in Brussels this Thursday, will discuss the proposal.