windfall tax

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windfall tax

a tax levied on an organization considered to have made excessive profits, esp a privatized utility company that has exploited a monopoly
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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.
Lawmaker Sanjaasurengiin Oyun told AFP on the sidelines of the conference that scrapping the windfall profits tax would open doors for Ulan Bator.
The Democratic proposal would have imposed a windfall profits tax of up to 25 percent on "unreasonable" earnings by the nation's five biggest oil companies.
As happened in when the first windfall profits tax was passed, these taxes will reduce exploration, limit supply, and increase costs by collapsing the market and driving independent oil producers--the very companies that do the most to produce domestically--out of business.
McCain advocates a federal gas tax holiday while Senators Clinton and Obama want to stick it to big oil with a windfall profits tax, forgetting that this contributed to long gas lines in 1970s.
She said she would pay for the summer gas holiday with a $10 million windfall profits tax on the big oil companies and has a tandem proposal to also close $7.
Instead of calling for a windfall profits tax, with the money going to an investment fund for alternative energy development, we hear, "End tax breaks for Big Oil and create tax incentives for the development" of such energy.
For example, the Windfall Profits Tax of the 1980s resulted in lower domestic oil production, higher oil imports, and a depressed U.
The Algerian energy minster, Chakib Khelil, says he's still waiting for international oil companies' reaction to the proposed new law introducing the windfall profits tax on oil, along with a move to give the state-owned oil firm Sonatrach a 51% interest in their contracts.
International oil companies (IOCs) are calling for further clarification of Algeria's hydrocarbons regime, with continued confusion about a new windfall profits tax.
org believe that oil companies are gouging gasoline consumers, and four out of five (including 76 percent of Republicans) would support a windfall profits tax specifically to fund alternative energy research.
called for a windfall profits tax on oil companies; the Department of Energy placed a Gas Price Hotline link prominently on its homepage; and Sen.