Portugal to Propose Energy Windfall Tax as War Raises Bills
Portugal’s Finance Minister Joaquim Miranda Sarmento speaks to the media at a Eurogroup meeting in Brussels, Belgium, on May 4.
Photographer: Wiktor Dabkowski/BloombergPortugal plans to push ahead with a proposal to impose a windfall tax on energy companies to help cushion the fallout from spiraling costs for consumers and companies caused by the Iran war.
Finance Minister Joaquim Miranda Sarmento said the proposed tax on energy companies’ profits will draw on measures used during the 2022 energy crisis.