2023-06-19 12:14:59
Par Richard Flurin
Published on 08/06/2023 at 18:38, Updated just now
The internal rate of return for motorway concessionaire shareholders is in fact well above the thresholds set in the concession contracts concluded with the State. spiritofamerica / stock.adobe.com
The Minister of Transport, Clément Beaune, has asked the Council of State for its opinion on an exceptional tax on the profits of motorway companies.
The hypothesis holds the rope at the Ministry of Transport. It front of “superprofits» companies that operate motorways on behalf of the State, Minister Clément Beaune wants to introduce an exceptional tax on profits. “The level of profitability of the concessionaires is above the levels envisaged“In the contracts that bind them to the state, we point out in the entourage of the minister.
The Council of State has been seized to find out whether such a tax is applicable with regard to the contracts which bind the two parties. “Without the price of tolls increasing for the user“, we insist at the Ministry of Transport. It is not impossible that the sages of the Royal Palace issue a favorable opinion, according to a source familiar with the matter. What they did, according to information from echoes out this Monday. “Provided that this taxation remains proportionate and is not specific to motorway companies alone, but also concerns other State concessionswrites the business daily. To open the door to a tax increase, the Council of State puts forward the legal argument, relays the newspaper, according to which the motorway companies have benefited “higher net gains since 2018, due to the lower corporate tax rate from 33% to 25% during Macron’s first five-year term».
It should be noted that the opinions of the Council of State are purely “advisory“. These are independent legal analyzes and recommendations.that the Government, the deputies and senators are free to follow or not“. But in the event that this tax turns out to be legal, Clément Beaune would like it to come into force as soon as possible, that is to say on the occasion of the 2024 finance law. of the government of the relevance of this tax mechanism, which should not be an easy task. The Minister of Economy and Finance, Bruno Le Maire, had pleaded for his part in favor of a shortening of the concession contracts, supposed to expire between 2031 and 2036. A solution which would be very expensive for the State since he would be required to compensate the concession companies. And to which the Council of State is closed, report The echoes.
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Bruno Le Maire also made an impression last fall by hammering home his opposition to a tax on «superprofits» , in line with the rest of the Head of State. Emmanuel Macron recently reiterated his opposition to taxing the record profits of certain companies. “In the case of the concession companies, the forecasts envisaged were exceeded. It is less about “superprofits” – a term that does not mean much – than about “superprofits”“, restores a relative of Clément Beaune.
The Ministry of Transport believes that the creation of a tax to this should prevent concessionaires from passing on this tax to users. This is the reason why it favors a new tax rather than the temporary increase in existing taxes, provided for in the concession contracts and which the concessionaires have the right to pass on in the price of the tolls.
Another argument is invoked by the Ministry of Transport: the need to recover resources to finance the very costly ecological transition of the sector. The government announced on Wednesday an investment of 8.6 billion euros to help the regions develop sustainable mobility. “The annual credits devoted by the State to transport are increased by 50% compared to previous contracts“said Clément Beaune. The minister’s entourage insists on the fact that these important credits must be financed.
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