The finance ministers of Germany, Italy, Spain, Portugal and Austria have called for a tax on windfall profits for energy companies amid rising fuel prices caused by the escalation in the Middle East, Reuters reports, citing a letter sent by the ministers to the European Commission, to which the agency has access.
„Five EU finance ministers are calling for a tax on windfall profits for energy companies in response to rising fuel prices amid the war in Iran“, the agency said in the publication.
According to the letter, the finance ministers of Germany, Italy, Spain, Portugal and Austria believe that this measure would send a “clear message“ that those who profit from the consequences of the conflict, should contribute to alleviating the “burden“.