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
References in periodicals archive ?
I am talking about windfall taxes to enable government to achieve this objective.
42 per cent of its profit in 2008, in windfall taxes to the central government.
Any attempt to continually soak big business with increased taxation - especially windfall taxes - will only hit the investment income of those institutions even harder and those savers who rely on them; many of them, I suggest, might be trade unionist themselves.
The Chancellor will confront critics of the Government today when he faces a barrage of questions from union leaders demanding increases in public sector pay and windfall taxes on energy firms.
I AM amazed at the outcry for windfall taxes on energy and fuel companies.
Instead, they want the Chancellor to introduce a 50p top band of income tax, claw back part of bosses' golden handshakes and retirement deals, and hit oil firms and utilities with windfall taxes.
Labour MP John McDonnell (Hayes and Harlington) accused BP of profiteering and added: "I will be calling in Parliament for price controls and profit windfall taxes.
It's true that there have been windfall taxes in the past.
If firms such as Shell cannot find ways of distributing some of their astonishing wealth, then calls for windfall taxes will only grow.