Finance Minister Alexander Chikwanda has in the past called advocates of the
windfall tax as lunatics.
I cannot see how a
windfall tax will help the average family over the coming winter.
Windfall tax calculation = 23% x [(365 x (P / D) x 9) - FV], where the
windfall tax rate is 23%, P equals the amount of the total profits for the company's initial period, D equals the number of days in the company's initial period, and FV equals the notation value (i.
Should the winning bidder sell the unit at, say, NT$300 million within one year, he or she will have to pay a
windfall tax amounting to NT$90 million at 30% tax rate.
Shadow chancellor George Osborne, interviewed earlier, said he would not rule out a
windfall tax on bankers' bonuses, which are expected to hit pounds 6bn this year.
Over and above the 25%
windfall tax, introduced in April 2008, the finance ministry also slapped on a 15% variable profit tax on income above 8% of sales, raised mineral royalties from 0.
Unions reacted by insisting there remained a compelling case for a
windfall tax on energy companies.
A compelling case still remains for a
windfall tax on the greedy energy companies.
The Prime Minister is to unveil proposals to help around ten million households with loft insulation, a new boiler and double glazing, but not to impose a
windfall tax on fuel companies, according to reports last night.
THE Government is finally expected to unveil a fuel poverty package tomorrow but without a
windfall tax on energy companies' profits.
The big political question is whether oil companies, whose profits have soared, should face a one-off
windfall tax on the profits.
LONDON: British finance minister Alistair Darling is looking at imposing a
windfall tax on energy companies, although the government is divided on the issue, a newspaper reported yesterday.
