EU proposes $25 billion windfall tax on fossil fuel producers to help offset energy crisis
September 15, 2022 Comments Off
The European Commission proposed Sept. 14 a temporary tax on the ‘surplus profits’ of the trade bloc’s fossil fuel producers to help offset soaring power and gas bills in the region in the wake of Russia’s war on Ukraine. Under the proposal, a “solidarity contribution” on excess profits generated from activities in the oil, gas, coal and refinery sectors will…
EU proposes $25 billion windfall tax on fossil fuel producers to help offset energy crisis
The European Commission proposed Sept. 14 a temporary tax on the ‘surplus profits’ of the trade bloc’s fossil fuel producers to help offset soaring power and gas bills in the region in the wake of Russia’s war on Ukraine. Under the proposal, a “solidarity contribution” on excess profits generated from activities in the oil, gas, coal and refinery sectors will…
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