Government Suggests that the EU Use the Portuguese Model as a Basis for Taxing Oil . . Economic Journal

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There will already be a first discussion, because during the day, the six countries - where Portugal is included - that have signed the letter, will do so, trying to convince the Commission of the arguments and that the Commission should move forward with a common proposal, said Finance Minister Joaquim Miranda Sarmento.

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High energy prices are bringing a tax on oil companies' superprofits to the EU table, with six countries pressuring the Commission to take action.

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Joaquim Miranda Sarmento says that "Portuguese methodology can serve as a starting point for defining it as a European methodology".

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The Portuguese Government today suggested that the European Commission should use the national methodology as a basis for a possible European solution for taxing the extraordinary profits of oil companies, which has been rejected by Brussels.