Vinci, the French construction and infrastructure company, has announced its intention to fight against a proposed tax on specific long-distance transportation infrastructure in France. The company joins a growing number of businesses expressing concern over the potential financial impact of this tax.
According to Vinci, if the proposed tax had been in effect in 2022, it would have incurred a charge amounting to €260 million ($273.1 million). The draft finance law was recently presented to France's Council of Ministers and will need to be reviewed and voted on by the National Assembly by early October to become effective next year.
Vinci strongly opposes the draft law, stating that it contradicts both the spirit and the terms of the concession contracts it has signed with the state and motorway concession companies. The company has vowed to explore all available avenues of appeal in response to this proposal.
Aeroports de Paris, another major player in the airport industry, has also voiced its concerns over the potential impact of this tax. The company estimates that it could have suffered a loss of approximately €100 million based on last year's revenue if the 4.6% tax had been applied.
In anticipation of the bill's passage, Aeroports de Paris plans to implement higher tariffs next year to mitigate roughly half of the tax's impact on its operations.
These developments highlight the increasing unease within the industry regarding the proposed tax on transportation infrastructure. As companies like Vinci and Aeroports de Paris seek to protect their financial interests, the future of this legislation remains uncertain.
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