Business · Companies · 22 hrs ago
Spanish energy companies avoid a new tax on their profits
Spanish energy companies have avoided a new tax on their profits after an earlier levy expired.
The levy was introduced three years ago as companies’ profits grew amid successive wars.
It ended after the government failed to secure enough support in Congress, particularly from Junts and the Basque Nationalist Party (PNV).
The government then sought a tax across the European Union, but Brussels said taxation is a matter for individual countries.
That effort has stalled, leaving the companies without the proposed levy.
Public and political attention has also shifted to issues such as housing and transport infrastructure, drawing less focus to energy companies’ profits.
Spanish energy companies have avoided a new tax on their profits and the public debate surrounding them.
A Spanish government tax on energy companies’ net income was introduced three years ago but later expired.
The tax lapsed after key parties in Congress, particularly Junts and the PNV, withheld support.
The government’s alternative proposal for a tax at European level met with no backing from Brussels, which said tax policy belongs to individual states.
The companies’ profits had grown amid successive wars, according to El País.
- Who
- Large Spanish energy companies.
- What
- They have avoided a new tax on their profits and the debate surrounding those profits.
- When
- The tax was introduced three years ago and later expired. The article was published on 1 November 2026.
- Where
- Spain; the government also sought a tax at European level.
- Why
- The tax expired for lack of support from key parties in Congress, particularly Junts and the PNV. Brussels said tax policy is the responsibility of individual states.
This story does not have two clearly opposing sides.
The Spanish government introduced an extraordinary tax on energy companies’ net income.
The tax expired after key parties in Congress withheld support.
The Spanish government sought a tax at European level, but Brussels did not support the move.
- Tax
- Extraordinary levy on energy companies’ net income
- Congress parties
- Junts and PNV
- European-level proposal
- Brussels said tax policy is exclusive to states
- Profit context
- Profits had grown amid successive wars