Definition of windfall profits tax in English:

windfall profits tax

(also windfall tax)


  • A tax levied on an unforeseen or unexpectedly large profit, especially one regarded to be excessive or unfairly obtained.

    • ‘A windfall tax on the profits accruing from the sale of landbanks and other development sites would be the thin end of the wedge.’
    • ‘The most positive action the government could take to lower the price of fuel is to introduce a windfall tax on oil companies and also reduce the tax rate on fuel.’
    • ‘While Brown is unlikely to cut fuel tax, there is every chance he will go for a windfall tax on the profits of the big oil companies.’
    • ‘The Green Party wants to levy a windfall tax on land when it is zoned for development.’
    • ‘I have seen the company I work for hit by windfall tax and stealth taxes.’
    • ‘The impact would be similar to the windfall tax Labour levied on the big privatised utilities in 1997.’
    • ‘Shell, as we predicted last week, came in only second to Exxon Mobil as the industry's biggest money-maker, and just as predictably there were renewed calls for a windfall tax on oil companies.’
    • ‘Opposition to unearned wealth was the rationale behind one of New Labour's best and most popular policies: the windfall tax on the privatised utilities.’
    • ‘Banks will this week engage in last minute negotiations to stave off a windfall tax by reaching agreement with the government over their contribution to the Post Office-based universal bank.’
    • ‘Some backbenchers started pressing for a windfall tax on soaring oil company profits.’
    • ‘It is unlikely that the application of a sophisticated, and therefore costly, competition law can be more effective in this area than the imposition of, say, a windfall tax on monopoly profits.’
    • ‘The Petrol Retailers' Association and the RAC are among those who have been calling for a windfall tax on the extra profits which have been earned as a result of last year's jump in oil prices.’
    • ‘To fund improvements to such societal problems ICTU is looking for a windfall tax on profits from land rezoning as well as a review of business taxes and levies reviewed with a view to seeking higher taxes from the financial sector.’
    • ‘Among other things, Almunia wants to impose a one-time windfall tax on former state-owned companies and earmark the money for raising pensions.’
    • ‘After his windfall tax and pensions raid, he cut the married couples' allowance and increased fuel duties.’
    • ‘He listed a series of measures including the windfall tax on utilities and the climate change levy which had cost industry billions of pounds.’
    • ‘Lawmakers may impose a windfall profits tax on them to help lower-income consumers pay their heating bills.’
    • ‘Martin O'Neill, chair of the Commons Trade and Industry Select Committee, indicated a windfall tax on profits made in Britain should be considered.’
    • ‘Nevertheless, a windfall tax remains politically risky, and tax cuts on fuel could well mean increases in other areas.’
    • ‘At a time when world oil prices have soared to over US $60 a barrel, the Government is proposing a revision of the windfall profits tax which Finance Minister Conrad Enill insists will lead to higher oil revenues.’