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What (who) is profits tax - definition
Profits tax
In Hong Kong, profits tax is an income tax chargeable to business carried on in Hong Kong. Applying the territorial taxation concept, only profits sourced in Hong Kong are taxable in general.
Windfall profits tax
HIGHER TAX RATE ON PROFITS THAT RESULT FROM A SUDDEN WINDFALL GAIN
Windfall Profits Tax; Windfall profit tax; Windfall tax (Australia); Windfall tax (disambiguation); Crude Oil Windfall Profits Tax Act; Windfall profits tax
A windfall profits tax is a higher tax rate on profits that ensue from a sudden windfall gain to a particular company or industry.
Excess profits tax
TAX ON ANY PROFIT ABOVE A CERTAIN AMOUNT
Excess Profits Tax of 1950; Excess-Profits Tax; Excess profit tax; Excess profits
In the United States, an excess profits tax is a tax on any profit above a certain amount. A predominantly wartime fiscal instrument, the tax was designed primarily to capture wartime profits that exceeded normal peacetime profits to prevent perverse incentives for manufacturers to engage in war profiteering and warmongering.
Examples of use of profits tax
1. Senate rejects windfall profits tax on Big Oil WASHINGTON (Reuters) – The U.S.
2. Proponents of a new WPT say that the old windfall profits tax did its job well.
3. If we have a windfall profits tax, it will just create another moneybag for the government.
4. The industry says the change would amount to a windfall profits tax.
5. Arlen Specter (R–Pa.) said that a windfall–profits tax on oil companies is "worth considering." Rep.