Finance Minister Joaquim Miranda Sarmento has joined counterparts from Germany, Italy, Spain, and Austria in a formal request to the European Commission for a new tax on extraordinary profits of energy companies. The ministers argue this measure would ensure unity and address the impact of rising fuel prices linked to the ongoing conflict in the Middle East. The proposal mirrors similar European regulations implemented during the 2022 energy crisis.
Portugal joins EU push for energy windfall tax
Saturday, 4 April 2026AI summary
Context & Explainers
Joaquim Miranda Sarmento is Portugal’s Finance Minister who gave a hearing before the Budget, Finance and Public Administration Committee about fiscal measures affecting housing. His remarks matter to expats because finance ministry decisions — like exemptions and public guarantees for young homebuyers — influence the property market, taxes and programmes that can affect housing affordability.
The European Commission is the EU’s executive body based in Brussels that proposes legislation, enforces EU rules and manages day‑to‑day EU policies; it is led by a President, currently Ursula von der Leyen. Commission proposals on harmonising business rules or introducing preferences can directly affect trade, regulation and competitiveness for companies and residents across all member states, including Portugal.
Sources (8)
- Five EU Finance Ministers call for a windfall tax on energy sector companiesRTP Notícias · 9:18am, 4 Apr 2026
- Montenegro revives Costa's tax on extraordinary energy profitsECO · 1:43pm, 4 Apr 2026
- Portugal requests authorisation from Brussels to create a tax on extraordinary energy profitsPúblico · 1:01pm, 4 Apr 2026
- Miranda Sarmento and four other EU ministers call for a windfall tax on energy company profitsDinheiro Vivo · 12:28pm, 4 Apr 2026
- Portugal and four other countries want a tax on extraordinary energy profitsCorreio da Manhã · 12:14pm, 4 Apr 2026
- Miranda Sarmento proposes European tax on extraordinary profits of energy companiesExpresso · 11:30am, 4 Apr 2026
- Portugal, Spain, Germany, Italy and Austria call for a European tax on energy company profitsCNN Portugal · 9:37am, 4 Apr 2026
- Sarmento wants to tax extraordinary corporate profitsObservador · 9:53am, 4 Apr 2026
