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Author: United States. Congress. Joint Committee on Taxation
Publisher:
ISBN:
Category : Excess profits tax
Languages : en
Pages : 52
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Book Description
Author: United States. Congress. Joint Committee on Taxation
Publisher:
ISBN:
Category : Excess profits tax
Languages : en
Pages : 52
Get Book Here
Book Description
Author: United States. Congress. Joint Committee on Taxation
Publisher:
ISBN:
Category : Excess profits tax
Languages : en
Pages : 43
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Book Description
Author: United States. Congress. Joint Committee on Taxation
Publisher:
ISBN:
Category : Excess profits tax
Languages : en
Pages : 43
Get Book Here
Book Description
Author: United States. Congress. Joint Committee on Taxation
Publisher:
ISBN:
Category : Excess profits tax
Languages : en
Pages : 48
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Book Description
Author:
Publisher:
ISBN: 9789284803897
Category :
Languages : en
Pages : 0
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Book Description
This study analyses the design and functioning of windfall profit taxes for energy suppliers in the EU. Based on profit data from 2021, the estimated revenue gains from the solidarity contribution amount to 4.4 bn EUR for the selected sample of firms. Applying the revenue cap to power prices of 2022 suggests a tax revenue of 106 bn EUR. The actual tax revenue might diverge substantially from these numbers due to different energy price levels during the application period. The revenue can be redistributed according to the Member States' priorities to face hardship of the energy crisis. Despite efficiency in theory, investment distortions might arise if investors expect the tax instrument to be extended to other sectors. This document was provided by the Policy Department for Economic, Scientific and Quality of Life Policies at the request of the Subcommittee on Tax Matters (FISC).
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ISBN: 9789284804283
Category :
Languages : en
Pages : 0
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Book Description
The present document is the executive summary of the study on The effectiveness and distributional consequences of excess profit taxes or windfall taxes in light of the Commission's recommendation to Member States. The aim of this study is to analyse the effectiveness of windfall profit taxes, in particular with respect to the Commission's recommendation to the Member States and to quantify the potential tax revenues. Moreover, the study briefly summarizes considerations on the distribution of collected revenues. To this end, the study discusses design features of windfall profit taxes and summarizes historical experiences. Based on these insights, the study briefly presents the content of the Council Regulation and provides an overview on windfall profit taxes already implemented in the EU. For a better understanding, the study describes the basic functioning of power markets in the EU and discusses the role of coordination for windfall taxes as a policy tool. Furthermore, one aim of the study is to quantify the level of expected tax revenues. The quantification of the solidarity contribution is based on firm level profits and reference profits from the ORBIS database. The quantification of the revenue cap uses data on day-ahead-prices and actual generation volumes by production type from the ENTSO-E Transparency Platform. Finally, the study provides a critical analysis of the foreseen measures with respect to its effectiveness of collecting revenue but also evaluating efficiency issues and redistribution potential.
Author:
Publisher:
ISBN:
Category : Excess profits tax
Languages : en
Pages :
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Author: Mr. Shafik Hebous
Publisher: International Monetary Fund
ISBN:
Category : Business & Economics
Languages : en
Pages : 37
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Book Description
This paper discusses the design of excess profits taxes (EPTs) that gained renewed interest following the COVID-19 outbreak and the recent surge in energy prices. EPTs can be designed as an efficient tax only falling on economic rent, like an allowance for corporate capital, and drawing some parallels with current proposals for reforming multinationals’ taxation. EPTs can be permanent or temporary as an add-on to the corporate income tax to support revenue during an adverse shock episode. The latter reflects experiences with EPTs during and after the World Wars. Different from that era, though, profit shifting is now a challenge. Estimation using firm-level data suggest that, at present, locations of excess profit across countries are consistent with profit shifting practices by multinationals. Destination-based EPTs can address this concern. Estimates suggest that a 10 percent EPT on the globally consolidated accounts of multinationals (on top of the current corporate income tax), with the EPT base being allocated using sales, raises global revenue by 16 percent of corporate income tax revenues. The analysis suggests that international coordination would be desirable to mitigate the risks of profit shifting and tax competition. Eventually, EPTs could mark an evolution of corporate taxation toward a non-distortionary rent tax.
Author:
Publisher:
ISBN:
Category : Excess profits tax
Languages : en
Pages : 0
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Book Description
Author:
Publisher:
ISBN:
Category : Energy conservation
Languages : en
Pages : 18
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Book Description
