UK rolls out 25% windfall tax on energy profits ...News

Russia Today - Economy
UK rolls out 25% windfall tax on energy profits
source : Russia Today ( News ) () 18
The measure aims to ease the cost-of-living crisis The UK has introduced a 25% windfall tax on energy producers’ profits, which will fund support grants for residents who are unable to pay their soaring energy bills, UK Chancellor of the Exchequer Rishi Sunak announced on Thursday. “We are introducing a temporary, targeted Energy Profits Levy charged on profits of oil and gas companies at a rate of 25%... We're also building in a new investment allowance that doubles the relief for the energy companies that invest their profits in the UK,” the official said, as cited by Reuters. According to Sunak, energy companie

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