The French government opted not to extend a windfall tax on the profits of oil refiners into next year, a Finance Ministry official said.
Lawmakers at the National Assembly’s finance committee had proposed amendments to the 2024 budget bill to extend levies to help fund relief measures for consumers hard hit by surging gasoline, diesel and electricity costs.
Read More: French Lawmakers Seek to Extend Windfall Taxes on Oil and Power
France was among several European nations to slap windfall taxes on oil companies after Russia’s invasion of Ukraine drove up energy prices.
The Finance Ministry official briefed journalists on condition of anonymity.
