"We know that the EU Commission suggested and recommended this measure [windfall tax). We are monitoring the profits of the companies in the system," António Costa Silva said at a press conference.
Portugal’s economy minister said on Thursday that the government was monitoring the profits of energy companies after Brussels proposed taxing excessive profits in this sector, a measure left out of the package the government presented today.
“We know that the European Commission suggested and recommended this measure [windfall tax). We are monitoring the profits of the companies in the system,” António Costa Silva said at a press conference in Lisbon.
The European Commission proposed a 33% tax on excessive profits.
However, the minister recalled that Portugal has a system with specificities, namely with extraordinary contributions from the sector.
On the other hand, as he pointed out, the Iberian mechanism already inhibits the creation of excessive profits.
“We must be careful when designing the measures,” he said.