Vinci Protests French Transportation Infrastructure Tax Proposal
2023年9月28日 - 3:32PM
Dow Jones News
By Mauro Orru
Vinci said it would resort to all available avenues of appeal
against a proposed tax on certain types of long-distance
transportation infrastructure in France, the latest company to warn
of the potential tax impact on its financial results.
The French construction and infrastructure company, which
operates a number of airports and highways, said late Wednesday
that it would have booked a charge to the tune of 260 million euros
($273.1 million) in 2022 if the proposed tax had been in force at
the time.
The draft finance law was presented to France's Council of
Ministers on Wednesday. The bill must be submitted to the National
Assembly--the lower house of parliament--by early October for
lawmakers to review and vote on the law that would become effective
next year.
"Vinci takes issue with this draft, which is contrary both to
the spirit and to the letter of concession contracts, particularly
those signed between the state as grantor and the motorway
concession companies, and it intends to use all available avenues
of appeal," the company said.
Aeroports de Paris said it would have suffered a hit of roughly
EUR100 million if the 4.6% tax had been applied to last year's
revenue.
The airport operator said it would resort to higher tariffs next
year to offset around half of the impact from the tax if the bill
were to go through.
Write to Mauro Orru at mauro.orru@wsj.com; @MauroOrru94
(END) Dow Jones Newswires
September 28, 2023 02:17 ET (06:17 GMT)
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