The article presents information on one-time excess profits commonly known as windfall tax imposed on privatized corporations for profits with reference to South Western Electricity PLC. A focus is on the question by the U.S. Third Circuit on appeal and tax court on whether windfall tax can be considered as an income tax. A proper definition for income tax is provided along with the views of tax court and Third Circuit court.
CITATION STYLE
Ricketts, R. (2002). Foreign Tax Credits. In The International Taxation System (pp. 135–156). Springer US. https://doi.org/10.1007/978-1-4615-1071-0_8
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