Windfall tax will help Ukraine
18:43
Windfall tax can be literally explained as the tax on unexpected cash flow. Unlike most taxes, such as income, property or excise taxes, windfall taxes are usually one-time in nature - they are levied in exceptional situations that cannot be predicted in advance.
Poland's Finance Minister, Magdalena Rzeczkowska, points out that countries which are large exporters of natural resources, such as Norway, should consider not only introducing such a tax but also allocating part of it to help rebuild Ukraine.
"It is the right time to start talking about a solidarity windfall tax," she told the Polish Press Agency.
"Translating the logic of taxing excess profits of energy companies for the needs of financing protection measures in particular countries to the international arena, one may be tempted to say that in the face of Russia's attack on Ukraine, countries drawing high incomes from the sale of gas or oil as part of broadly understood international solidarity with the devastated Ukraine could transfer part of the funds from excess profits to support and rebuild the economy of our eastern neighbor," the head of the Ministry of Finance noted.
