#WindfallTax

[wnewsguru]

कच्चे तेल पर विंडफॉल टैक्स बढ़ाकर 10, 000 रुपये प्रति टन

सरकार ने कच्चे पेट्रोलियम पर विशेष अतिरिक्त उत्पाद शुल्क (एसएईडी) आज से बढ़ाकर 10, 000 रुपये प्रति टन कर दिया है। इससे घरेलू स्तर पर उत्पादित कच्चे तेल पर अप्रत्याशित लाभ कर (Windfall Tax) 6, 700 रुपये प्रति टन तय किया गया था।

[biglisbonnews]

Biden's proposed tax hikes could take aim at oil companies' record profits US president Joe Biden is expected to propose his third budget on Thursday (March 9), teeing up a fight with Republicans over a raft of tax hikes intended to reduce the deficit by $2 trillion over the next decade. Read more... https://qz.com/bidens-proposed-tax-hikes-could-take-aim-at-oil-compani-1850207171

[jsbmarketresearch01]

Indian Government Cuts the Windfall Taxes on Crude, Export of Diesel and Aviation Turbine Fuel

Effective Thursday, the Indian Government reduced the windfall tax on diesel, crude, and aviation turbine to $52.60 or Rs. 4,350 per tonne from Rs. 5,050. The decline in tax was announced as Indian refiners have kept aside discounted Russian fuel for a while now because of an increase in people booking domestic flights. Thus, on 15 February, the government cut down the windfall tax on crude oil and exports of diesel as well as aviation turbine fuel.

Not only this, but the government also reduced the export tax drastically on aviation turbine fuel from Rs. 6 to Rs. 1.50 per litre. They also decreased the diesel export tax from Rs. 7.50 per litre to Rs. 2.50 as per the notification. In July, India imposed levies on the export of aviation fuel, diesel, and gasoline and a windfall tax on crude oil producers.

This decision was taken after the private refiners intended to generate gains from expanding the margins on refiners in the overseas market instead of selling the fuel at a lower price at home. Now with a cut in the said taxes, some respite may come for the Indian refiners and explorers whose profit margins were otherwise affected by the increased windfall taxes earlier.

Some of the affected firms were Vedanta Ltd., Reliance Industries, Petrochemicals Ltd, Oil India and Mangalore Refinery. These companies even saw their last quarterly results being impacted due to the taxes.

Visit: - https://www.jsbmarketresearch.com/news/indian-government-cuts-windfall-taxes-on-crude-export-of-diesel-and-more

Follow us on social handles: -

Instagram: - https://www.instagram.com/p/CouAzm0IVVx/?utm_source=ig_web_copy_link

Twitter: - https://twitter.com/JSBMarket/status/1626158461628321797?s=20

Pinterest: - https://pin.it/4vscjFG

LinkedIn: - https://www.linkedin.com/posts/jsbmarketresearch_indiaenergypolicy-windfalltax-crudeoil-activity-7031924241331564544-8Vum?utm_source=share&utm_medium=member_desktop

YouTube: - https://youtube.com/shorts/fuxJDO9Jjk0?feature=share

Facebook: - https://www.facebook.com/JSBMarketResearchGroup

[bristolforeurope]

"My cartoon Friday @TheTimes on #RishiSunak discovering gravity. #WindfallTax #SirKeirStarmer " https://twitter.com/brookestimes/status/1530141772562800640 https://www.instagram.com/p/CeEowTJsOrc/?igshid=NGJjMDIxMWI=

[biglisbonnews]

Exxon’s record $56 billion profit has renewed the White House’s outrage at oil companies ExxonMobil raked in $55.7 billion in annual profits, shattering a 2008 record of $45 billion and setting a new goalpost for American and European fossil fuel companies.Read more... https://qz.com/exxon-s-record-56-billion-profit-has-renewed-the-white-1850057911