Germany to introduce additional tax on gas. He wants to help suppliers affected by his price hike

While many countries are looking for ways to help households with rapidly rising energy bills, people in Germany are still paying more for gas. Federal Minister of Economy Robert Habeck (Greens) presented a proposal for the introduction of a special tax.

Consumers will bear the new tax

The additional tax should amount to 1.5 to 5 eurocents per kilowatt-hour of natural gas consumption. Consumers, not suppliers, will bear the tax. This tax is intended to help suppliers financially bear the costs associated with the gradual replacement of Russian gas supplies. The income from the tax is supposed to prevent the insolvency of many suppliers.

No one knows how much gas will cost

The tax should be introduced from October 1 this year and should be paid until the end of September 2024. It will therefore be part of the German tax system for two years. For a German household of four, this will mean that they will pay up to a thousand euros more per year for gas. Habeck said that the measure is painful, but necessary to stabilize the energy market. “No one knows exactly how much gas will cost in November. However, it is necessary to admit that it will represent a few hundred euros extra for each household,” said the minister.

author avatar
EditorialTeam
The Trader-Magazine.com EditorialTeam is a collective of certified financial analysts, active traders, and cryptocurrency experts. Our mission is to transform complex market data (forex, equities, indices) into accessible financial education. All content undergoes rigorous, multi-level fact-checking to ensure we deliver only accurate, objective information for your trading and investment decisions.

Top 10 financial instruments for 2022. What will their prospects be in 2023?

The year 2022 has brought countless surprises and obstacles...

Telegram scams: how they work and how to protect yourself

Telegram has become one of the most widely used...

Trump Saved TikTok from a Ban. The App in the U.S. Moves into American Hands

TikTok narrowly avoided a ban in the United States...

Climate Change Poses Major Risks to Financial Markets, Regulator Warns

WASHINGTON — A top financial regulator is opening a...

Golden Brokers Review

Golden Brokers Limited was founded in 2018, it is...

Siemens’ Quarterly Profit Beats Estimates as the Company Benefits from AI-Related Demand

German industrial conglomerate Siemens increased its profit from industrial...

Sell Stop Orders: How They Work, When They Trigger and Where They Fail

A sell stop order allows investors to automatically sell an asset...

German Authority Investigates PayPal Over Possible Restriction of Competition

The online payment system PayPal may be engaging in...

Airbnb Could Earn More From the Same Booking

Airbnb plans to bring car rentals and partner services directly into its platform. With AI customer support reducing overheads, the company aims to earn higher profits from existing customer bookings.

Over-the-Counter Markets: How OTC Trading Works Outside Centralized Exchanges

Over-the-counter (OTC) trading allows investors, financial institutions, and companies...

Maersk’s profits grew, but a return via Suez may squeeze margins [1]

Maersk posted an operating profit of USD 3.3 billion...

Shooting Star Candlestick: How to Read It Without Trading the Shape Alone

A shooting star candlestick can warn that an upward...
spot_img