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Government proposes "extraordinary" 33% tax on surplus profits of oil companies
Business

Government proposes "extraordinary" 33% tax on surplus profits of oil companies

SAPO15 September 2026 at 17:59

The Portuguese government proposed an "extraordinary" tax of 33% on the surplus profits of oil companies. This temporary measure aims to tax profits that exceed by 20% the average taxable profits from the last two years.

The revenue generated by this tax will be used to finance support for consumers and businesses that are being penalized by rising energy prices and other essential goods.

The proposal comes in a context of significant increase in the cost of living in Portugal, where families and businesses face growing difficulties due to inflation and price volatility in the energy market.

Why this matters

This measure directly affects Portuguese consumers and businesses facing high energy prices, potentially offering them support financed by this taxation. The proposal follows the context of increased energy costs that have been pressuring families and the business sector in Portugal.

About this summary

This is our short summary of a report published by SAPO on 15 September 2026 at 17:59; the full text stays with the publisher. In our feed it sits under Business. We currently carry 23405 items in that section.

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