Portugal Approves Temporary Tax on Oil Windfall Profits, Galp Shares Drop 3.2%
businessenergy-marketsoilstocksworldeurope 1 posts · 1 accounts
Portugal has approved a temporary tax on windfall profits from oil and refining companies, with the levy applied to earnings that substantially exceed the average of previous years.
The measure, reported by public-news agency Lusa, was approved at a cabinet meeting on Thursday and confirmed by a government spokesperson following fuel price increases linked to the conflict in Iran. Shares in Galp, Portugal’s largest company, fell as much as 3.2% in Lisbon following the announcement.
From the sources (1 posts)
@staunovo#Portugal’s government approved a temporary tax on windfall profits from oil and refining companies, public-news agency Lusa reported, without saying how it got the information. The levy was approved at a cabinet meeting on Thursday and wi