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Higher tax rate on companies
A windfall tax is a higher tax rate on profits that ensue from a sudden windfall gain to a particular company or industry. There have been windfall taxes
Windfall_tax
Higher tax rate on firms/industries due to sudden increase in their profits
Windfall taxes have been applied on several occasions since 1997 by United Kingdom governments, in response to company profits that were considered to
Windfall_tax_(United_Kingdom)
Tax on monopoly profits
event which provides some with an extraordinary ability to earn windfall gains. Windfall taxes have often been proposed, and sometimes imposed, in order to
Excess_profits_tax
Tax in Mongolia
The Windfall tax or windfall profits tax (Mongolian: Гэнэтийн ашгийн татвар) in Mongolia was a taxation on the profits made by mining companies operating
Windfall_tax_(Mongolia)
Levy on the unimproved value of land
League for the Taxation of Land Values Single tax Tax reform Tax shift Value capture Wealth tax Windfall tax Webb, Merryn (27 September 2013). "How a levy
Land_value_tax
British banker (born 1972)
controversy after giving a speech to a group of businessmen that a £10 billion windfall tax on North Sea oil revenue in the 2011 budget was his idea. The move has
Danny_Alexander
British tax lawyer
companies to avoid tax, in favour of increased HMRC prosecution of aggressive tax avoidance and evasion, in favour of windfall taxes on oil and gas producers
Dan_Neidle
Tax paid after inheritance of property
International tax law distinguishes between an estate tax and an inheritance tax. An inheritance tax is a tax paid by a person who inherits money or property
Inheritance_tax
Proposed sovereign wealth fund of Israel
passed by 2020. The complicated nature of the windfall tax might cause companies to use intricate forms of tax avoidance. In January 2022, Finance Minister
Israeli_Citizens'_Fund
Package of financial transaction taxes
transaction tax. In 2008, Italian treasury minister Giulio Tremonti introduced a windfall tax on the profits of energy companies. Tremonti called the tax a "Robin
Robin_Hood_tax
Conversion of energy from sunlight into electricity
raise €140bn from windfall tax on energy firms". the Guardian. 14 September 2022. Retrieved 15 September 2022. "The EU's energy windfall tax gives UK ministers
Solar_power
Type of property tax
for high-yield profits known as Windfall tax.[citation needed] Rates in South Africa are a form of ongoing property tax for property owners, charged according
Rates_(tax)
announced were a five-year plan to reduce the budget deficit, a £5.2bn windfall tax on recently privatised utilities which was to fund Labour's planned Welfare
1997_United_Kingdom_budget
North Sea, including potential reforms to the UK's Energy Profits Levy (windfall tax) on oil and gas producers and the future of investment in the sector
2026_Iran_war_fuel_crisis
Global inflation following the COVID-19 pandemic
higher than their historical averages. In July, the UK imposed a 25% windfall profit tax on British North Sea oil producers, which expected to raise £5 billion
2021–2023_inflation_surge
Period of the Government of the United Kingdom in 2022
removed temporarily. To fund the scheme, the Labour Party had proposed a windfall tax on excess profits of energy companies; however, Truss rejected these
Premiership_of_Liz_Truss
duties, increased tobacco and vapes duties, extended the oil and gas windfall tax, increased the child benefit threshold, announced further energy measures
March 2024 United Kingdom budget
March_2024_United_Kingdom_budget
North Sea, including potential reforms to the UK's Energy Profits Levy (windfall tax) on oil and gas producers and the future of investment in the sector
Economic impact of the 2026 Iran war
Economic_impact_of_the_2026_Iran_war
Ratio between turnover and profit
Monopoly price Net income Operating profit margin Return on capital Windfall gain Windfall tax "Profit Margin: Definition, Types, Formula, and Impact". Investor
Profit_margin
Financial optimization technique
Tax avoidance is the legal use of the tax regime in a single territory to one's own advantage to reduce the amount of tax that is payable. A tax shelter
Tax_avoidance
Form of taxation in Australia
Income tax in Australia is imposed by the federal government on the taxable income of individuals and corporations. State governments have not imposed
Income_tax_in_Australia
Political party in Spain
Carreño, Belén (24 October 2023). "Spain's Socialists and Sumar agree windfall tax extension in coalition deal". Reuters. Retrieved 8 November 2023. Heller
Sumar_(electoral_platform)
U.S. federal tax legislation
Doing With Their Tax Windfall (So Far)". Bloomberg News. January 26, 2018. Retrieved July 9, 2018. Smith, Noah (July 18, 2018). "Trump's Tax Cut Hasn't Done
Tax_Cuts_and_Jobs_Act
Tax based on taxable income
income tax is a tax imposed on individuals or entities (taxpayers) in respect of the income or profits earned by them (commonly called taxable income)
Income_tax
British politician (born 1958)
the decision by Chancellor of the Exchequer Rishi Sunak to introduce a windfall tax on oil and gas firms to fund economic support for the public during the
Richard_Drax
Unusually high income that is sudden and/or unexpected
A windfall gain is a sudden and usually unexpected addition to income which is substantially above the norm. Windfall gains usually refer to a gain in
Windfall_gain
being funded through a windfall tax on banks and energy companies that have made profits from interest rates and energy prices. The tax was introduced in 2023
Rail_transport_in_Spain
Financial crime
Tax evasion or tax fraud is an illegal attempt to defeat the imposition of taxes by individuals, corporations, trusts, and others. Tax evasion often entails
Tax_evasion
Tax on activity generating negative externalities
A Pigouvian tax (also spelled Pigovian tax) is a tax on a market activity that generates negative externalities, that is, costs incurred by third parties
Pigouvian_tax
Workfare programme in the United Kingdom
Labour government in 1998, initially funded by a one-off £5 billion windfall tax on privatised utility companies. The stated purpose was to reduce unemployment
New_Deal_(United_Kingdom)
Form of consumption tax
A value-added tax (VAT), goods and services tax (GST), or general consumption tax (GCT) is a consumption tax that is levied on the value added at each
Value-added_tax
Political manifesto published in 2024 by the British Labour Party
company, to cut bills for good and boost energy security, paid for by a windfall tax on oil and gas giants. Crack down on antisocial behaviour, with more
Change_(manifesto)
Repealed US federal law; excise tax
The Crude Oil Windfall Profit Tax Act of 1980 (P.L. 96-223) was enacted as part of a compromise between the Carter Administration and the United States
Crude Oil Windfall Profit Tax Act of 1980
Crude_Oil_Windfall_Profit_Tax_Act_of_1980
Private equity-backed oil and gas corporation
majors". Financial Times. Retrieved 3 May 2024. "North Sea producers warn windfall tax has forced rethink of UK projects". Financial Times. 16 June 2022. Retrieved
NEO_Energy
Prime Minister of the United Kingdom from 2022 to 2024
intensified efforts to respond to the crisis in May 2022, with a £5 billion windfall tax on energy companies to help fund a £15 billion support package for the
Rishi_Sunak
Central government agency in India
The Income Tax Department is a government agency undertaking direct tax collection of the government of the Republic of India. It functions under the Department
Income_Tax_Department
Compulsory contribution to state revenue
Arguably a windfall profits tax which is entirely unanticipated can also fall into this category. Deadweight loss does not account for the effect taxes have
Tax
Tax on investment profits
A capital gains tax (CGT) is the tax on profits realised on the sale of a non-inventory asset. The most common capital gains are realised from the sale
Capital_gains_tax
Municipal political party in Canada
Retrieved August 20, 2018. St. Denis, Jen (July 26, 2018). "Real estate 'windfall' tax would curb speculation and gentrification in Vancouver, OneCity says"
OneCity_Vancouver
PIT or asset-based taxes), Pension Fund and medical insurance contributions (thus no UST). "Russian president signs law on windfall tax". 4 August 2023.
Taxation_in_Russia
Economic sector of Mongolia
new Mongolian windfall tax". CBC News. 15 May 2006. Retrieved 13 May 2013. Hornby, Lucy (25 August 2009). "Mongolia repeals windfall tax, paves way for
Mining_in_Mongolia
Software used for tax compliance
Tax compliance software is software that assists tax compliance, and may cover income tax, corporate tax, VAT, service tax, customs, sales tax, use tax
Tax_compliance_software
announced that the major gas, coal, and oil companies would have to pay a windfall tax, an extra levy imposed by a government on a company that benefited from
History_of_ExxonMobil
Value-added tax in India
and Services Tax (GST) is an indirect tax introduced in India on 1 July 2017, replacing a range of pre-existing taxes like VAT, service tax, central excise
Goods and Services Tax (India)
Goods_and_Services_Tax_(India)
Form of illuminati in india
income tax 7.43 (5.23%) Corporate taxes 45.99 (32.3%) Other taxes 1.83 (1.29%) Excise taxes 35.84 (25.2%) Customs duties 17.46 (12.3%) Other taxes 1.68
Income_tax_in_India
Gold mine in Zamora-Chinchipe Province, Ecuador
mining law in 2013, Kinross pulled out of Ecuador after a dispute over windfall taxes, reporting a loss of $720 million. In 2014 Kinross sold its entire interest
Fruta_del_Norte_mine
Tax on property, particularly real estate
property tax (whose rate is expressed as a percentage or per mille, also called millage) is an ad valorem tax on the value of a property. The tax is levied
Property_tax
Tax on the transfer of the property of a deceased person
afford to give up a portion of their windfall to help finance their government." Some proponents of a steep estate tax argue that concentrating wealth in
Estate tax in the United States
Estate_tax_in_the_United_States
in income tax rates above £80,000 a year £5bn – other In addition, Labour was to obtain income from the Inclusive Ownership Fund, windfall tax on oil companies
2019 United Kingdom general election
2019_United_Kingdom_general_election
Public utility company in Wales
and electricity multi-utility. However, in 1999/2000, following the windfall tax on utility profits and the 1999 Ofwat price review, Hyder got into financial
Dŵr_Cymru_Welsh_Water
Scottish politician (born 1986)
benefit sanctions". In May 2022, Chancellor Rishi Sunak introduced a windfall tax on the soaring profits of energy companies to pay for a series of measures
Kirsty_Blackman
Surveying on Polish administration since 2025
found Nawrocki responsible for high gas prices due to blocking a gas windfall tax, while 23.9% thought otherwise. An SW Research poll for Onet conducted
Opinion polling on the Karol Nawrocki presidency
Opinion_polling_on_the_Karol_Nawrocki_presidency
generators, except those with fixed-price contracts. This was described as a 'windfall tax'. The economics of wind power are driven by factors such as the capital
Wind power in the United Kingdom
Wind_power_in_the_United_Kingdom
British politician (born 1979)
which she confirmed would begin in January 2025, and an increase on the windfall tax on the profits of energy and gas companies to begin from November 2024
Rachel_Reeves
Fixed tax paid by every liable individual
A poll tax, also known as head tax or capitation, is a tax levied as a fixed sum on every liable individual (typically every adult), without reference
Poll_tax
214 PPL Corp. v. Commissioner 569 U.S. 329, 344-50 (2013) UK Windfall Tax • foreign tax credit Thomas 115 Sebelius v. Cloer 569 U.S. 369, 371-82 (2013)
2012 term United States Supreme Court opinions of Sonia Sotomayor
2012_term_United_States_Supreme_Court_opinions_of_Sonia_Sotomayor
Russian taxi service
(Press release). GlobeNewswire. 14 February 2020. "Yandex.Taxi pays windfall tax of 1.7 bln rubles in 2023 - annual report". Interfax. 2 April 2024. Antoniuk
Yandex_Taxi
Tax levied on trades of financial instruments such as stocks, bonds, or derivatives
A financial transaction tax (FTT) is a levy on a specific type of financial transaction for a particular purpose. The tax has been most commonly associated
Financial_transaction_tax
Indian politician (1934–2015)
proposed a windfall tax on ore exported to raise resources for the people adversely affected by projects. Despite his proposal for a windfall tax, Handique
Bijoy_Krishna_Handique
British politician (born 1969)
supported with £8.3bn of government funding, which was paid for by a windfall tax on major oil and gas companies. In October, the government defeated an
Ed_Miliband
Tax incentive
A tax credit is a tax incentive which allows certain taxpayers to subtract the amount of the credit they have accrued from the total they owe the state
Tax_credit
Leaving a country to avoid paying taxes
A tax exile is a person who leaves a country to avoid the payment of income tax or other taxes. The term refers to an individual who already owes money
Tax_exile
Tax on an entity's holdings of assets
A wealth tax, also called a capital tax, equity tax, or net wealth tax, is a tax on an entity's holdings of assets or an entity's net worth. This includes
Wealth_tax
ongoing inflation crisis by imposing a 95 percent windfall tax through 2024, similar to the windfall tax on corporations implemented in the United States
Political positions of Bernie Sanders
Political_positions_of_Bernie_Sanders
Measure of the economic effect of a tax
economics, the tax incidence measures who actually pays for a tax. Economists distinguish between the entities who ultimately bear the burden of a tax (the real
Tax_incidence
British politician (born 1949)
higher corporation tax, a windfall tax on oil companies, a reduction in annual tax allowances on dividend income, raising income tax on high earners, and
Jeremy_Corbyn
Form of taxation in Canada
personal income taxes than it did from corporate income taxes. Tax collection agreements enable different governments to levy taxes through a single
Income_tax_in_Canada
Revenue-generating measure
tourist tax in Europe and the United States is to levy a tax on accommodation known as a hotel tax, occupancy tax, lodging tax or bed tax. The tax is levied
Tourist_tax
Norwegian energy company
Retrieved 2015-07-31. "Statoil halts North Sea oil development over windfall tax". the Guardian. 2011-03-29. Retrieved 2022-03-08. "Etisk fond trekker
Equinor
Representation of the relationship between taxation and government revenue
government's tax revenue. The theory reasons that because no tax revenue is raised at the extreme tax rates of 0% and 100%, there must be a tax rate between
Laffer_curve
Area of law
tax revenue is derived or levied, e.g. income tax, estate tax, business tax, employment/payroll tax, property tax, gift tax and exports/imports tax.
Tax_law
Scottish Conservative Party politician
accused of concealing a conflict of interest by repeatedly opposing a windfall tax on fossil fuel companies when his wife is a significant shareholder in
David_Duguid_(politician)
2013 United States Supreme Court case
privatized U.K. company subject to the windfall tax, claimed a credit for its share of the bill in its 1997 federal income-tax return, relying on Internal Revenue
PPL Corp. v. Commissioner of Internal Revenue
PPL_Corp._v._Commissioner_of_Internal_Revenue
Proposal to reform United States tax code
Medicare taxes), gift taxes, and estate taxes, replacing every extant federal taxes with a single consumption tax levied on retail sales. The Fair Tax Act
FairTax
Ongoing cost-of-living crisis in the United Kingdom
address the cost-of-living crisis in May 2022, introducing a £5 billion windfall tax on energy companies to help fund a £15 billion support package for the
United Kingdom cost-of-living crisis
United_Kingdom_cost-of-living_crisis
Prime Minister of the United Kingdom from 2007 to 2010
can now return income tax to just two rates by removing the 10p band on non-savings income". Brown also implemented the Windfall Tax in 1997 on the privatised
Gordon_Brown
2022–2023 British grassroots campaign
families and pensioners could be unable to pay increased energy bills. A windfall tax on these profits was announced in July 2022. However, energy bills are
Don't_Pay_UK
of railway, water and energy, a green society, a wealth tax, a carbon tax, and a windfall tax on the profit of banks. The manifesto promises quicker access
2024 United Kingdom general election
2024_United_Kingdom_general_election
Range of legal and illegal activities that reduce tax paid
Tax noncompliance is a range of activities that are unfavorable to a government's tax system. This may include tax avoidance, which is tax reduction by
Tax_noncompliance
Rishi Sunak's tenure at HM Treasury (2020–2022)
the government's efforts to respond to the crisis, with a £5 billion windfall tax on energy companies to help fund a £15 billion support package for the
Chancellorship_of_Rishi_Sunak
Tax based on value of transaction
An ad valorem tax (Latin for "according to value") is a tax whose amount is based on the value of a transaction or of a property. It is typically imposed
Ad_valorem_tax
British politician (born 1986)
January 2023. "BP declines to reveal how much 'loophole' saved it in windfall tax". the Guardian. 22 November 2022. Retrieved 19 January 2023. "Liberty
Darren_Jones
Reduction in the tax charged by a government
A tax cut (or tax rate cut) is a reduction in taxes collected by a government. It usually refers to reductions in the percentage of tax paid on income
Tax_cut
alphabetically, with total tax revenue as a percentage of gross domestic product (GDP) for the listed countries. The tax percentage for each country
List of countries by tax revenue
List_of_countries_by_tax_revenue
Monetary exemption from taxes that would otherwise be levied
property, income, or transactions. Tax-exempt status may provide complete relief from taxes, reduced rates, or tax on only a portion of items. Examples
Tax_exemption
Political party in Northern Ireland
living crisis, in the May 2022 Assembly Election the DUP supported a windfall tax on energy firms, and an energy support payment "to support hard-pressed
Democratic_Unionist_Party
Tax imposed on employers or employees
A payroll tax may be imposed on employers or employees. They are usually calculated as a percentage of the salaries that employers pay their employees
Payroll_tax
Type of tax
An indirect tax (such as a sales tax, per unit tax, value-added tax (VAT), excise tax, consumption tax, or tariff) is a tax that is levied upon goods
Indirect_tax
Total or partial exemption from tax
A tax incentive is an aspect of a government's taxation policy designed to incentivize or encourage a particular economic activity by reducing tax payments
Tax_incentive
Refusal to pay a tax in opposition to government policy or taxation itself
Tax resistance (also known as a tax strike or tax revolt) is the refusal to pay tax because of opposition to the government that is imposing the tax, or
Tax_resistance
Tax on corporations
A corporate tax, also called corporation tax or company tax or corporate income tax, is a type of direct tax levied on the income or capital of corporations
Corporate_tax
Aspect of tax law
In a tax system, the tax rate is the ratio (usually expressed as a percentage) at which a business or person is taxed. The tax rate that is applied to
Tax_rate
potential tax rates around Europe for certain income brackets. It is focused on three types of taxes: corporate, individual, and value added taxes (VAT).
Tax_rates_in_Europe
Irish politician (born 1968)
done in France. In 2022, Bacik called for a pay rise for workers and a windfall tax on energy companies, and an increase in the minimum wage. Bacik has stated
Ivana_Bacik
American political proposal
No tax on tips is an American proposal to not tax income earned from tips. During the 2024 United States presidential election, both main candidates supported
No_tax_on_tips
Place which charges very low taxes on profits
A tax haven is a term, often used pejoratively, to describe a place with very low tax rates for non-domiciled investors, even if the official rates may
Tax_haven
Higher tax ratio on poorer sources
A regressive tax is a tax imposed in such a manner that the tax rate decreases as the amount subject to taxation increases. "Regressive" describes a distribution
Regressive_tax
Period of the Government of the United Kingdom from 2019 to 2022
these energy support payments, Chancellor Rishi Sunak announced a windfall tax, to tax extraordinary profits of energy companies which aimed to raise about
Premiership_of_Boris_Johnson
Proposed international tax scheme
The global minimum corporate tax rate, or simply the global minimum tax (abbreviated GMCT or GMCTR), is a minimum rate of tax on corporate income internationally
Global minimum corporate tax rate
Global_minimum_corporate_tax_rate
Tax on the sales of certain goods and services
sales tax is a tax paid to a governing body for the sales of certain goods and services. Usually, laws allow the seller to collect funds for the tax from
Sales_tax
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