Government Closer to Taxing Extraordinary Profits From Oil Companies: Bill Has Already Arrived in Parliament
13 Articles
13 Articles
The Government justifies the measure with rising fossil fuel prices and with exceptional growth in profit margins in the oil sector, in particular in extraction and refining
The diploma will also have to be discussed and voted on by Members of Parliament so that what the government presents as a "temporary and strictly proportional financial instrument", of extraordinary and temporarily limited nature, can be created.
Proposal for the contribution of temporary solidarity on the oil sector covers the taxation of 2026 for companies with rising profits compared to the average of 2024 and 2025.
The government has adopted a bill introducing a tax on extraordinary profits of fuel companies, announced Council of Ministers spokesman Adam Szłapka. He added that if the bill is signed by the president, the government will revert to the Lower Fuel Prices program.
<p>Pedro Santos Guerreiro, executive director of CNN Portugal, states that the government is "taking care of what it does" to mitigate the increase in the cost of living when, in fact, "they have many weapons at their disposal."</p>
The contribution applies to companies resident or with "stable establishment" in Portugal that develop activities in the crude oil and refining sectors, considering entities that obtain at least 37.5% of the turnover in these activities.
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