Webinar on Fossil Fuel Windfall Profit Taxes

Programme

Fossil fuel windfall profit taxes have gained renewed attention as a tool to capture excess profits arising from external shocks, price volatility, and geopolitical crises, while helping governments mobilise additional resources for climate and development priorities. At the same time, an estimated USD 3.55 trillion in revenues remains hidden from tax authorities globally, with oil and gas companies playing a significant role. Recent analysis by the International Tax Observatory shows that when oil prices boom, profits reported in tax havens increase substantially. 

Building on the efforts of the Addis Tax Initiative (ATI) and the Global Solidarity Levies Task Force (GSLTF) to advance discussions on domestic revenue mobilisation and solidarity-based financing instruments, this webinar will provide a platform to exchange perspectives on design options and implementation of windfall profit taxes in the fossil fuel sector.

Objectives

The webinar will bring together representatives of ATI and the GSLTF member countries, policymakers and experts to reflect on lessons from recent national experiences and their implications for future policy design. Particular attention will be given to questions of tax base definition, duration and rate setting, interaction with existing corporate tax regimes, revenue use, and communication strategies to strengthen legitimacy and public acceptance. The event aims to support informed dialogue and practical peer-learning for countries as they consider options to strengthen domestic resource mobilisation in a fair and climate-progressive way. 

Agenda

The event is by invitation only (only member country representatives) and will be held under Chatham House Rules.