Windfall taxes are meant to tax any income that a company makes as a result of an unforeseeable external event, for example, the increase in energy prices brought on by the conflict in Ukraine and Russia. These are gains that the company did not actively pursue, such as an investment plan or a business expansion. Governments around the world have introduced windfall taxes for a variety of reasons, including funding social welfare programmes, redistribution of unforeseen gains when high prices benefit producers at the expense of consumers, and as an additional source of revenue for the government. Click on the “Download PDF” option provided below to know more on-
What is Windfall Tax?
Why are nations suddenly imposing windfall taxes?
What drawbacks exist with the imposition of such taxes?