(also windfall tax)
A tax levied on an unforeseen or unexpectedly large profit, especially one regarded to be excessive or unfairly obtained.
- The Green Party wants to levy a windfall tax on land when it is zoned for development.
- The impact would be similar to the windfall tax Labour levied on the big privatised utilities in 1997.
- 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.
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Syllabification: wind·fall prof·its tax
Definition of windfall profits tax in:
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