Finance Minister Joaquim Miranda Sarmento announced in Brussels that Portugal will implement a tax on the extraordinary profits of energy companies. The government plans to calibrate and improve upon the measures used during the 2022 fuel price crisis before presenting a formal proposal to the Assembly of the Republic (Assembleia da República).
Government to tax extraordinary profits of energy firms
Tuesday, 5 May 2026AI summary
Context & Explainers
The Assembly of the Republic (Assembleia da República) is Portugal's unicameral parliament, located in the Palácio de São Bento in Lisbon. It consists of 230 deputies elected by proportional representation for four-year terms.
The Assembly's powers include making and amending laws, approving the state budget, ratifying international treaties, and overseeing the government through debates, hearings, and committees. It can also pass votes of no confidence to bring down a government, as happened in March 2025.
Following the May 2025 elections, the current parliamentary composition is led by the Democratic Alliance (AD) with the largest share of seats, followed by Chega, PS, and smaller parties including the Liberal Initiative, Left Bloc, Livre, and PCP.
