6 Questions
What is the purpose of a windfall tax?
To discourage excessive profits in specific industries
Which of the following events might trigger the imposition of a windfall tax?
Discovery of a new, highly profitable resource
How does a windfall tax impact a company's profits?
It reduces the excess profits earned by the company
Which type of tax is imposed on oil, gases, and petroleum products?
Excise tax
What is the primary purpose of the tax imposed on oil, gases, and petroleum products?
To generate government revenue
Which of the following taxes is NOT imposed on oil, gases, and petroleum products?
Tariff tax
Test your knowledge on windfall tax with questions about its purpose, triggering events, and impact on company profits.
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