Austria Looks To Lower The Windfall Tax Threshold For Its Oil And Gas Industry ...Middle East

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Austria Looks To Lower The Windfall Tax Threshold For Its Oil And Gas Industry
source : OILPRICE ( Middle East ) () 50
The Austrian government is looking to lower the threshold for a windfall tax it imposed on oil and gas companies last year. That’s according to a new Bloomberg report, which noted that until now the threshold for the windfall tax, which covers 40% of above-threshold profits, was set at 20% above the average profit level for the period 2018 to 2021. The new threshold under discussion would be 10% above the companies’ average profit level for 2018 to 2021. “It’s not acceptable that energy companies profit from the crisis when…

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