Meaning of windfall tax | Babel Free

Definitions

Ellipsis of windfall profits tax, a higher tax rate on profits from sudden gains (“profiteering”) in certain industries.

abbreviation, alt-of, ellipsis

Equivalents

Examples

“The windfall tax was the political glue in the 1980 deal to get Washington out of the business of setting oil prices. Producers were freed from cumbersome, costly controls, while the public was assured a portion of any gain from OPEC-led price gouging.”

“Companies at the centre of the global grain trade have enjoyed a record bonanza amid soaring food prices around the world, raising concerns of profiteering and speculation in global food markets that could put staples beyond the reach of the poorest, and prompting calls for a windfall tax.”

CEFR level