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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 How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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| In response to today's proposal to enact a Windfall Tax on the petroleum industry, he Western States Petroleum Association (WSPA) issued the following statement from Executive Director Doug Henderson: Net interest for the half year was (pound)86 million, an increase of (pound)9 million, reflecting the growth in debt associated with a higher level of capital investment, the payment, in December 1998, of the final installment of the windfall tax and the impact of the share buy-back program initiated as part of the PacifiCorp merger. The net interest charge of 161 million pounds was 14 million pounds higher than in 1997-98 due mainly to the full year effect of increased debt on payment of the first installment of the windfall tax in December 1997 and the part year impact from the second installment paid in December 1998. |
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