석유정제산업의 초과이윤세 도입 타당성 평가

[Purpose]This study investigates the feasibility of introducing an excess profit tax(EPT). [Methodology]This study applied a methodology to analyze the feasibility of introducing a windfall profit tax by examining the characteristics of the petroleum industry, overseas windfall profit tax legislative trends, and specific burdens and operational status of the petroleum refining industry. [Findings]Firstly, petroleum refining companies exhibit a profit and loss structure susceptible to variations, given the difference between the purchase prices of crude oil and the selling prices of refined petroleum products. Secondly, the domestic petroleum industry heavily relies on imports of crude oil and the proportion of exports via the petroleum refining sector is increasing, thereby enhancing the international competitive advantage of refining capacity. Thirdly, encompassing the energy sector, including the refining industry, this industry inherently follows the high－risk－high－reward principle. If temporary profit taxation due to the COVID－19 pandemic is implemented, protective mechanisms to safeguard against resulting losses should be established by the government. [Implications]Based on these analytical results, the current proposal to introduce EPT in the petroleum refining industry lacks sufficient justification.