The Spanish government has reportedly reached an agreement to end the windfall tax on the energy sector and to extend the windfall tax on the banking sector. As previously reported, Law 38/2022 of 27 December 2022 introduced measures to levy a windfall tax at the rate of 1.2% on the net turnover of large energy companies derived from activity in Spain and at the rate of 4.8% on net interest and commission fee income of large financial/credit institutions in Spain. An indefinite extension of b…