Netherlands rejects claim that high fuel prices enrich oil firms; Belgium's windfall tax proposal faces scrutiny

In the Netherlands, the cabinet reiterated that high fuel prices do not translate into windfall profits for oil companies and that there will be no move to extract large gains from them, including via VAT on fuel. The government emphasized that the notion of mega-profits from oil firms is not considered accurate.

In Belgium, discussions around imposing a windfall profits tax on the petroleum sector are contentious and viewed as delivering limited revenue. Experts warn that higher refining margins do not necessarily equate to increased profits, and the proposed measure by Vooruit faces scrutiny over its potential effectiveness and fiscal impact.