The controversial and “famous” windfall tax, the tax on the so-called “unexpected profits” of energy-related sectors, will increase in 2023, the finance minister, Fernando Medina, assured when presenting the 2023 state budget proposal (OE2023). , this Monday.
“[A taxa sobre lucros extraordinários] will be the subject of its own bill. It’s here in the state budget, to indicate its impact on next year’s fiscal framework, but it will have to have its own legislative initiative for it to enter into force in 2022”, Fernando Medina stated during a press conference in the Great Hall of the Ministry of Finance.
“Portugal will implement the Temporary Solidarity Contribution (CTS) under the European Council Regulation” approved this weekend.
The CTS tax is “levied on extraordinary profits” from companies in the “crude oil, natural gas, coal, refining” sectors and a minimum rate of 33% is applied” to the portion of the profits deemed “unexpected” , said the minister.
The Treasury has not budgeted for the additional revenue to be included with this measure, but says it will ensure “fairer taxation in businesses.”
Luís Reis Ribeiro is a journalist for Dinheiro Vivo
Source: DN
