Wall Street

Factbox-What is a windfall tax and when has Britain used it?

Published by
Reuters UK

LONDON (Reuters) – The British government is expected to announce a windfall tax on oil and gas companies on Thursday to help fund a package of support for households struggling with a cost of living squeeze. WHAT IS A WINDFALL TAX? A windfall tax is a one-off levy imposed on a company or a group of companies by the government, targeting excess and unexpected profits. Opponents of windfall taxes say they risk discouraging investment, but those in favour argue that by being a one-off they are less damaging to economic activity than other taxes. British finance minister Rishi Sunak is expected t…

Read More

Share this Story
Load More Related Articles
Load More In Wall Street