Record earnings: TotalEnergies to pay ‘corporate tax in 2023’

The record profit caused controversy. TotalEnergies CEO Patrick Pouyanne announced this Thursday evening that the company must pay “corporate tax in 2023.”

Asked about LCI, the boss of the company, which found itself at the center of widespread social conflict in October, explained that “this year, because of the Russian-Ukrainian conflict, which has led to a rise in gasoline prices, our refineries will earn money.” After three years of deficit, the company posted a record profit in 2022, which logically should be subject to income tax. To avoid “another controversy,” he said.

Patrick Pouyanne also insisted on his company’s large losses during the Covid-19 pandemic, which he estimates at “more than one billion euros”, recalling that no assistance was requested from the state.

Special European contribution

In addition to corporate tax, TotalEnergies will also pay “a special European contribution that Brussels has planned, which is about 150 million euros,” the company’s CEO said. But faced with the magnitude of these mandatory fees, Patrick Pouyanne did not want to be subject to more taxation: “Now if every time our results are positive they want to take all of our profits, that raises questions about long-term investment. »

“The truth is that we pay a lot of taxes, but in the countries where we produce,” Patrick Pouyanne said. He estimates that his company will pay out around “30 billion euros” worldwide this year, representing “50% of the profits” of TotalEnergies, he assured.