Europe: Energy tax news in Portugal

Tax on extraordinary profits of energy companies "is a good way to fund support packages for families"

Brussels gives 'green light' to tax on extraordinary profits of energy companies

The European Commission gave its approval this Wednesday to the proposal from Portugal and four other countries to apply a temporary tax on the extraordinary profits of energy companies. Brussels' position, however, is that the measure is an exclusive decision for the Member States. 'Member States may also adopt taxation measures on extraordinary profits...'

Portugal among countries advocating for a new tax on energy profits in the EU

Portugal joins other nations in supporting the implementation of a new levy on energy sector profits across the European Union.

jornaleconomico.sapo.pt17 Apr

European Commission sees revenue potential in taxes on energy profits

The European Commissioner for Economy stated that potential taxes on windfall profits from energy companies, as requested by Portugal, could generate additional revenue, while warning of deep economic uncertainty due to the conflict in the Middle East. The Commission is currently reviewing a request from the Portuguese Finance Minister and his counterparts from Germany, Spain, Italy, and Austria to create an EU-wide tax on energy windfall profits, similar to 2022 crisis measures. Commissioner Valdis Dombrovskis noted that while energy tax relief can provide immediate benefits, it must be balanced against long-term goals and fiscal costs. The Commission will provide a detailed assessment of the macroeconomic impact of the conflict in the upcoming European Semester spring cycle.

Brussels backs windfall tax on big firms to ease pain from energy crisis

“We are looking into whether we can come up with some kind of more coordinated approach at the European level," says economy czar Valdis Dombrovskis.

Windfall profits: justice or illusion? — Debate

Finance Minister Miranda Sarmento wants a new EU tax on windfall energy profits. After the mediocre experience of 2022, are we looking at a case of justice or populism?

The energy tax is the Groundhog Day of fiscal policy

In the midst of an energy crisis, with oil prices reacting to instability in the Middle East, Portugal has signed a joint letter with Spain, Germany, Italy, and Austria asking the European Commission for a new tax on energy company profits. The letter, dated April 3rd and addressed to Commissioner Wopke Hoekstra, requests...

Brussels analyses Portuguese request for windfall tax on energy companies

The Commission is working in close cooperation with member states on potential targeted policy measures in response to the current energy crisis facing Europe.

Brussels analyses Portuguese request for windfall tax on energy companies

The European Commission stated this Monday that it is analysing the request from Portugal, Germany, Spain, Italy, and Austria to create a tax on the windfall profits of energy companies, while noting that the situation differs from the 2022 energy crisis. “We have received the letter. We are currently analysing it and will respond in due course,” says an official source from...

Portugal wants to apply a tax on extraordinary profits of energy companies

Home News Portugal wants to apply a tax on extraordinary profits of energy companies Portugal wants to apply a tax on extraordinary profits of energy companies The Portuguese Minister of Finance and his counterparts from Germany, Spain, Italy and Austria have asked Brussels to create a tax on the

Portugal requests authorisation from Brussels to create a tax on extraordinary energy profits

Miranda Sarmento was one of the European ministers to request authorisation from the European Commission to create a tax on the extraordinary profits of energy companies, similar to what occurred in 2022.

Portugal and four other countries want a tax on energy companies' windfall profits

The Portuguese Finance Minister and his counterparts from Germany, Spain, Italy, and Austria have asked Brussels to create a tax on the windfall profits of energy companies, similar to measures used to contain the 2022 energy crisis. The request was made in a joint letter signed by Joaquim Miranda Sarmento and the federal ministers of...