EU: Should oil companies’ windfall profits be taxed? It’s up to individual Member States

Ranked News

📈 Economy & Business

EU: Should oil companies’ windfall profits be taxed? It’s up to individual Member States 25.08.2026

Eunews

The European Commission has stated that taxing the windfall profits of energy companies falls under the authority of individual EU Member States, not the European Union as a whole. This position was articulated in response to a letter sent last weekend by Italy and five other EU countries—Germany, Austria, Poland, Spain, and Portugal—calling for an EU-wide tax on the windfall profits of energy companies. A spokesperson for the EU executive emphasized that "taxation of windfall profits falls within the remit of the Member States, which may take action based on national legislation," but stressed that such measures must comply with European law.

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