City
Epaper

Dutch govt plans new levy for fossil fuel companies

By IANS | Updated: November 2, 2022 04:25 IST

The Hague, Nov 2 The Dutch government has said that it plans to raise 3.2 billion euros ($3.2 ...

Open in App

The Hague, Nov 2 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)

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: The Twilight Saga: New MoonusXinhuaThe Hague
Open in App

Related Stories

InternationalNorth Carolina Plane Crash: Retired NASCAR Driver Greg Biffle and Family Among Seven Killed in Statesville Jet Crash

International'Warrior Dividend': Donald Trump Announces $1,776 Christmas Bonus to Active US Soldiers

BusinessUS Stock Exchange Nasdaq Moves Toward 24-Hour Trading, How Will Impact on Indian Share Market

BusinessIndia’s November 2025 Exports Hit Three-Year High Despite US Tariffs

InternationalUS: Two Elderly People Found Dead at Film Director Rob Reiner’s Los Angeles Residence

Politics Realted Stories

MumbaiWho Is Tejasvee Ghosalkar? Shiv Sena UBT Leader and Former Corporator Joins BJP Ahead of BMC Polls

MaharashtraSanjay Raut Says Sena–MNS Already Together No Need Others Permission

MaharashtraBig Jolt to Sharad Pawar as Salil Deshmukh, Son of Anil Deshmukh, Quits NCP-SP

PoliticsEknath Shinde Issues Strict No-Crossover Order After Meeting Amit Shah; Directive Communicated to All Shiv Sena Leaders

MaharashtraBMC Elections 2025: Devendra Fadnavis Says Clarity on Seat-Sharing Will Emerge in Two Days