01981cas a2200277 a 4500 AALejournalIMF023071 230101c9999 xx r poo 0 0eng d 5.00 USD 9798400218736 2957-4390 BD-DhAAL BD-DhAAL Baunsgaard, Thomas. Taxing Windfall Profits in the Energy Sector / Thomas Baunsgaard, Nate Vernon. Washington, D.C. : International Monetary Fund, 2022. 1 online resource (19 pages) IMF Notes <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students The surge in fossil fuel prices in 2022 has generated substantial windfall profits in the energy sector. Policymakers in many countries are exploring policies to tax part of these profits. Excess profits can be taxed by tax instruments targeted at economic rents that avoid discouraging investment and limit any impact on further price increases. Many fossil fuel producing countries already have an adequate rent-capturing fiscal instrument in place. Others may consider introducing a permanent tax on windfall profits from fossil fuel extraction but should be more cautious about temporary and possibly poorly designed windfall profit taxes. Given the importance of encouraging decarbonatization of energy generation, it seems counter-intuitive to introduce exceptional tax measures on renewable electricity generation. Mode of access: Internet Hydrocarbon Resources imf Nonrenewable Resources and Conservation imf Vernon, Nate. IMF Notes; IMF Notes ; No 2022/002 Full text available on IMF https://elibrary.imf.org/openurl?genre=journal&issn=2957-4390&volume=2022&issue=002 IMF e-Library