According to Bloomberg News Agency on Wednesday, Portugal intends to levy unexpected taxes on earnings on a group of businesses in the energy and retail sectors that generated unusual gains as a result of the current inflation issue.
According to Portuguese Prime Minister Antonio Costa, his government will soon submit a proposal to the legislature regarding a tax that will be enacted just once and be targeted at the revenues generated by these businesses in 2022.
Costa omitted providing specifics on the businesses that could be required to pay the levy.
Costa told Parliament that “the firms must pay these unfair profits due to this inflation issue.”
Prime Minister: Portugal plans to levy an unexpected earnings tax on businesses in the retail sector.
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