UK slaps 25% windfall tax on profits of oil and gas companies
25% levy on energy firms will raise about £5bn for poorest
29 May 2022 - 07:34
British Prime Minister Boris Johnson’s government will impose a so-called windfall tax on the profits of oil and gas companies to help fund support for Britons facing a cost-of- living crisis.
The 25% levy on energy firms will raise about £5bn (about R100bn) which will finance one-off grants of £650 to more than 8-million of the poorest households in the UK, finance minister Rishi Sunak said in the House of Commons on Thursday...
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