Portugal to Propose Energy Windfall Tax as War Raises Bills (1)

Portugal 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.

“We will take the measures adopted in 2022, fine-tune and improve them and — in the near term — present a proposal to parliament,” Miranda Sarmento told reporters in Brussels in comments broadcast by RTP3 television station.

The Middle East conflict has sent energy ...