Tax Plaza
The Tax system explained!
Windfall profits tax
A windfall profits tax is a tax on profits that ensue from a
sudden windfall to a particular company or industry.
United States
In 1980, United States federal legislation was passed that
levied such a tax on oil companies because of the profits they
earned as a result of the sharp increase in oil prices brought
about by the Arab oil embargo. Since then, the tax has not been
reenacted, however with gas prices once again reaching record
levels there is renewed pressure on the U.S. government to bring
back the tax. Amid low oil prices, the tax was ended in 1988 by
President Ronald Reagan.
The Congressional Research Service has analysed that the
windfall profit tax brought in $80 billion in extra revenues for
the United States government, which was far less than the
projected $393 billion. Also, domestic oil production by oil
producers was said to be lowered.
These are not to be confused with the excess profit taxes of
WWI, WWII, and the Korean War eras. Windfall Profit Taxes are
more of an excise-type of tax.
Taxation in the News
Commissioner for Taxation and Customs Union, Audit and Anti-Fraud - A Smart ...
From my last appearance in this committee, I recall your strong interest in taxation issues. I am here today to share with you my ambitions for the years to
Let's keep Alex Salmond on the ropes, not appease him
That this accolade would amount to the end of the United Kingdom as a unitary state, with a single taxation system, appears not to have occurred to Mr
The perfect society: A land without wealth?
Would the egalitarian consider taxation equitable if the "rich" surrender, say, 75-percent of their income to government? Hillary Clinton, Oregon voters and
KPMG International > Taxation of cross-border mergers and acquisi tions
Taxation of cross-border mergers and acquisitions Current laws and regulations applying to cross-border M&A, including different ways to structure a merger
Environmental taxation keeps falling - Eurostat
They also fell as a percentage of overall taxation. Lower energy use and energy taxes not keeping up with inflation have combined to produce this result,
Better tax structure needed for SF businesses
For decades, small businesses in San Francisco have argued that the city's flat 1.5 percent payroll tax hurts job creation and slows economic growth.
Millcreek School Board approves budget with tax increase
By DANA MASSING After three years without a tax increase, the Millcreek School Board voted in favor of one for 2010-11. The board on Monday approved an
Taxes
What is tax?
A tax is a financial charge or other levy imposed on an individual or a legal entity by a state or a functional equivalent of a state (for example, secessionist movements or revolutionary movements). Taxes could also be imposed by a subnational entity. Taxes consist of direct tax or indirect tax, and may be paid in money or as unpaid labourInteresting articles
Deciding when to File a Tax ReturnHome-Based Business Owners Save Thousands on Their Taxes
Over The Counter Tax Certificate Investing
Taxes and Divorce
Tax Advantages In A Home Business
Automobile Tax Expenses
Over The Counter Tax Certificate Investing
Internet Marketing Get Your Tax Money Back