The windfall profits
tax imposed on the oil industry in 1980 drove down domestic oil production by 3-6 percent and increased imports by 8-16 percent, according to the Congressional Research Service.
The data in this study shows that a substantial share of the cost of a Windfall Profits
Tax would be borne by retirees and those saving for retirement.
The IMF's Executive Board agreed that the windfall profits
should be used for the benefit of the Fund's low-income members, and that the distribution of profits could only take place after members accounting for at least 90 percent of the distribution undertook to make their shares available to the PRGT.
They consequently earned windfall profits
of nearly 872 million for all airlines, if the full value of the free permits was charged to passengers.
was not eligible to claim a foreign tax credit for its payment of the windfall profits
tax because the tax did not meet the gross receipts requirement of Regs.
Chancellor George Osborne offered a helping hand to motorists in a Budget which lopped 1p a litre off fuel duty and introduced a Fair Fuel Stabiliser, funded by new taxes on the windfall profits
of oil companies.
Meanwhile, the Chairman of state-run power company National Thermal Power Corporation (NTPC), Arup Roy Chowdhury, said it had made no windfall profits
from the allocations and that the lower costs meant cheaper electricity for consumers.
The tax dispute between Anadarko and state-owned Sonatrach was sparked by a 2006 Algerian tax law on windfall profits
The agreement included an obligation to maintain the government's share of project economic benefits at 52%, including a royalty, corporate income tax, the state portion of a profit-sharing contribution, and a windfall profits
In the Sunday Mirror today, Labour leader Ed Miliband calls on the Government to insist that the industry hands back its windfall profits
to needy customers.
High international gold and silver prices allow mining companies to reap windfall profits
of up to 53% that are not shared with the state, say experts.
A windfall profits
tax is a higher tax rate on profits that ensue from a sudden windfall gain to a particular company or industry.