에너지산업 초과이윤세제의 국제적 입법동향 분석과 시사점

The purpose of this study is to analyze trends and legislative examples of excess profit tax (hereby “EPT”) in major countries around the world, and to derive implications for Korea. Recently, the introduction of an EPT was first legislated in EU countries and the United Kingdom. First, among EU countries, Spain introduced EPT that applies not only to energy companies but also to banks in 2021, and Italy introduced EPT on energy companies at a 25% tax rate on excess profits in 2022. Hungary also introduced a tax in the form of EPT for 14 industries in 2022. And in the case of the UK, the EPT was introduced by amending the ring fence corporate tax, which is additionally taxed at a 25% tax rate on top of the existing ring fence corporate tax.
This study derives the following implications. First, as the prospects for introduction of EU countries, it is expected that among EU countries that have not yet introduced EPT, they will decide whether to introduce EPT based on the prospect of EPT adoption in the entire EU. Second, countries that have introduced EPT have a clear purpose of introduction and use of tax revenue. The plan to utilize price stability and secured tax revenue was clear, and the budget for expenditure and the size of tax revenue were estimated. Third, EPT applies not only to energy companies, but also to all industries, including financial institutions and airlines. Fourth, it is the nature of taxing the domestic mining sector, not the oil refining sector, among those subject to application to the energy sector. Fifth, although the name is EPT, most of them are designed in the form of consumption tax. Most of the introduction countries set sales or production as the tax base, so it can be said that it is a tax in the nature of consumption tax.
This study provide policy implications for the bill currently being proposed in Korea. In particular, through the examples of countries that have already introduced EPT, a careful approach to pending bills will be needed to minimize side effects and problems in terms of domestic economic conditions and energy security.