Exxon sues EU in move to block new windfall tax on oil companies
Supermajor says Brussels exceeded legal authority by imposing levy set to raise up to €25bn
ExxonMobil is suing the EU in a bid to force it to scrap the bloc’s new windfall tax on oil groups, arguing Brussels exceeded its legal authority by imposing the levy.
https://www.ft.com/content/4bd2590f-3aa3-4f0b-a001-165f61c7af5f
If profit brings higher tax, then when oil price low and EM loses money, give EM grants.
I get it. For me I thought it was just funny one corrupt organization to sue another.
So some people who seem to be EM employees believe it’s OK to change the law so higher taxes would be paid RETROACTIVELY. Makes me think that somehow the endless, oversized PIPs are justified. Too bad they are getting rid of the wrong people.
Oh no, without that money, we'll be less able to do more stock buy backs that do nothing for anyone, whatever shall we do!!!!!
@1wed - You obviously believe in socialism which is a race to the bottom for everyone. How would you like it if you paid the taxes that you agreed to and then we’re told that you retroactively have to pay even more.
Feel free to turn more of your paycheck over to the government because they do such a good job spending your money.
If I have to pay my taxes, then so does ExxonMobil.
The socialist EU needs a lesson in economics. ExxonMobil, Chevron, BP, and Shell need to go full Atlas Shrugged on the EU. Shut down and dismantle their refineries and not sell any oil products to the EU. That’s what they want. They put a price cap on Russian oil, how did that work out? Russia said FU we won’t sell it to you. Now what? Are they not going to use oil? Stay tuned…
Clearly @fbt+1kpsh1yy didn’t bother to read the article since it was behind a paywall. 😂😂
That would be like the President deciding that the stock market had done too well in 2021, so retroactively decided to tax your stock earnings (401k, 529, whole shebang) by an additional 1/3.
This is not just about ExxonMobil but retroactively imposing taxes on a corporation after they’ve made the investments and taken the risks. This type of policy does not benefit anyone at the end of the day. It curtails investment and is simply a pass through tax that the end user will ultimately pay.
'The problem with socialism is that you eventually run out of other people's money.'
Are you celebrating that xom is trying to get away with not paying taxes?????
What kind of brainwashing did xom executed on your small brain?
Lets assume that the company is successful with this legal maneuver and does get away with it. Who do you think those $$ will reward?
The average employee like you, or the hi-pos and management ????
You will see no penny of this.