Generally, the tax is imposed on net profits.

A tax on oil, however, does not entail excess burdens.

Even the United States has imposed a windfall profits tax.

Russia could impose an excess capital gains tax, analogous in spirit to the tax imposed on US oil companies when their profits soared, through no effort of their own, from high oil prices in the 1970's.

Beginning in 2018, business owners will be taxed on total profits, as tax exemptions on reinvested profits, via the Taxable Profits Fund (FUT), will cease.

That tax is paid on profits earned in the US and on repatriated profits earned by US companies foreign subsidiaries.

In addition, there should be a windfall profits tax on oil and gas companies.

Repatriation of any earnings in excess of 500 million would be subject to a 5 tax.

And what about the second tax proposed by the IMF, on banks profits and bonuses?

If it repatriates the after tax profits, it pays a 22.5 tax (the difference between the 35 US rate and the 12.5 tax that it already paid to the Irish government).

And when a foreign firm acquires a US company, it pays US tax on the profits earned in the US but not on the profits earned by that firm s other foreign subsidiaries, thus lowering its total tax bill.

For example, a French firm that invests in Ireland pays the 12.5 Irish corporate tax but is then free to repatriate the after tax profits with a tax of less than 5 .

Sustainable profits.

Recently, the IMF proposed a new global tax on financial institutions loosely in proportion to their size, as well as a tax on banks profits and bonuses.

But if it reinvests the profits in Ireland or in any other country no further tax must be paid.

He drinks to excess.

Don't drink to excess.

A tax could be imposed, say, at the rate of 90 , on the excess gains from the acquisition of state assets e.g., on gains in excess of 10 cumulative returns on original equity investments.

JD Sports rose 3.1 after the sportswear firm reported an 83 jump in half year pre tax profits to 46.6m.

Lives versus Profits

The third change is a tax on the financial sector, in the form of a Financial Activities Tax on profits and remuneration at big banks that enjoy implicit government guarantees.

Next to the 100 billion annual rise in after tax corporate profits in the US in 2003, the scandals look puny.

This disincentive disappears if the corporate tax base is decoupled from current profits and linked to some broad measure of activity.

Allowing multinational companies to repatriate overseas profits without paying additional US tax would also bolster investment and job creation at home.

As a result, American companies now hold abroad roughly 2 trillion in profits that have never been subject to US tax.

Many developing countries lack a corporate income tax the huge profits of the telecom, cement, and other monopoly sectors escape taxation.

This disincentive disappears if the corporate tax base is decoupled from current profits and linked to some broad measure of activity.

Annual pre tax profits rose 40 per cent year on year to 380m, on revenues up 18 per cent to 1.6bn.

Excess of politeness is annoying.

To raise these extra amounts, the Obama administration could levy an excess profit tax on Wall Street to make up the budget gap.

To raise these extra amounts, the Obama administration could levy an excess profit tax on Wall Street to make up the budget gap.

And what about profits?

Profits made, prophets ignored.

Let's split the profits.

I believe some of the inequities of the past can be addressed without any direct attack on property rights, no matter how dubiously acquired. Russia could impose an excess capital gains tax, analogous in spirit to the tax imposed on US oil companies when their profits soared, through no effort of their own, from high oil prices in the 1970's.

The sound principle is excess collateral.

Other films cast excess as nauseating.

How much per kilo for excess?

To be sure, most taxes entail heavy excess burdens the cost is significantly greater than the value of the revenue raised because of potential taxpayers' myriad attempts at evasion and avoidance. A tax on oil, however, does not entail excess burdens.

Recently, profits have not cooperated.

The company overstated its profits.

It is no coincidence that wherever stock markets thrive, governments take care that these taxes stop well short of destroying after tax corporate profits.

This is all happening with excess capacity.

On the contrary, it implies excess benefits .

On the contrary, it implies excess benefits .