Congress is expected to debate a
windfall profits tax in the coming weeks.
The move comes after 151 member countries agreed to pledge their share of
windfall profit from the sale of IMF gold to the PRGT.
The study adds that the airlines will make further
windfall profits from the Commission's decision to stop the clock for a year to give the International Civil Aviation Organisation (ICAO) more time to negotiate a global solution to the problem of aviation emissions.
The coal mine reserves that we have got, we can not have any
windfall profit because actual cost is regulated by CERC (Central Electricity Regulatory Commission) regime.
Kinross President and CEO Tye Burr responded that while the negotiations were confidential, the company was hoping to find some ways to mitigate the impact of the
windfall profits tax and of the other taxes and royalties.
It is fundamental that
windfall profits be taxed because the companies' huge earnings are not the result of company management but rather the jump in prices.
Moreover, some contractors have achieved
windfall profits of millions of pounds through refinancing and selling equity stakes in PFI contracts.
The Government argues the Australian public should be sharing in these
windfall profits.
Huge
windfall profits among investment banks are in prospect this year, fuelled by state interventions to prop up the system following the financial crisis and reduced competition after the demise of players such as Bear Stearns and Lehman Brothers.
This work explains background, history, rationales, policy and economic contexts, and consequences of bills introduced in Congress to impose a
windfall profits tax on oil--that is, a tax on oil industry income that is due primarily to rising crude oil prices, not new production or investment.
The government may also be willing to soften a tough tax on
windfall profits when prices are high.
The Oyu Tolgoi project, which is expected to employ 5,000 people at the mine and thousands more in the supply chain around it, was made possible when lawmakers recently scrapped a controversial
windfall profits tax.
