The Minister of Economy clarified that the idea of implementing a tax on the exceptional profits of companies, including those in the energy sector, is a “last resort solution” that the Government can implement if it deems necessary.
“For now, there is no such tax. We are studying all the options”, said António Costa Silva. “If very specific situations are identified, in which companies have normal profits from their activity that result from good management capacity, productive investments and intensive profits themselves, we will respect them”, he added.
However, he also warned: “If, in the juncture, a company that is making 20% profits and suddenly goes to 80%, we can talk to those companies to participate in the effort to help the economy in a difficult situation”. And then yes, the windfall tax can be applied. “There is nothing dramatic, nothing new,” said the minister, noting that this measure is already applied in several countries, such as the USA, Spain and Italy.
“If there is room for unexpected and random profits, we will be attentive, because the State does not have infinite resources nor will it be able to help all sectors”, noted António Costa Silva, underlining that “we are living in exceptional times and sometimes it is necessary to take exceptional measures”.