Finland Proposes 30% Windfall Tax On Power Companies ...Middle East

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Finland Proposes 30% Windfall Tax On Power Companies
source : OILPRICE ( Middle East ) () 13
The Finnish government has announced on Thursday that it has proposed a temporary windfall tax on profits from the country's electricity companies as part of a European Union response to soaring power costs. The proposed 30% tax would apply to any profits exceeding a 10% return on capital in 2023, with the government estimating it could bring in between 500 million and 1.3 billion euros ($533 million-$1.9 billion). If the Finnish government goes ahead with its plans, it will join Germany and the UK as the other EU members that have introduced a…

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