City
Epaper

Dutch govt plans new levy for fossil fuel companies

By IANS | Updated: November 2, 2022 04:25 IST

The Hague, Nov 2 The Dutch government has said that it plans to raise 3.2 billion euros ($3.2 ...

Open in App

The Hague, Nov 2 The Dutch government has said that it plans to raise 3.2 billion euros ($3.2 billion) through a new levy on companies in the fossil fuel sector.

The funds will be used to ease the burden of the energy crisis on consumers, Xinhua news agency reported.

The so-called "temporary solidarity contribution" for crude oil, natural gas, coal and petroleum refining companies will be introduced retroactively over the year 2022, according to a letter sent to the Dutch parliament by the Finance Ministry on Tuesday.

In this way, large profits from increased energy prices will be additionally taxed.

The 3.2 billion euros the government expects to raise through the levy will be used to partly compensate for an energy cap for small consumers affected by high energy prices, the letter said. (1 euro = 1 US dollar)

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: The Twilight Saga: New MoonusXinhuaThe Hague
Open in App

Related Stories

InternationalIran-Israel Conflict: Israel Attacks Iran's Sole Nuclear Power Plant in Bushehr; Tensions Escalate

MumbaiMumbai: Bomb Threat Call to US Consulate Traced to Mentally Unstable Youth Upset Over Visa Rejection

InternationalOrganic Ground Beef Recalled Over E. Coli Fears in US - Is Yours Affected?

InternationalTennessee: One Killed, Several Injured After Woman Suffers Seizure While Driving, Hits Pedestrians and Vehicles in Gatlinburg

InternationalUS: 250 Million Bees Escape After Semi-Truck Overturns in Whatcom County; Weidkamp Road Closed to Traffic

Politics Realted Stories

MaharashtraNCP Leader Suraj Chavan Shares Alleged Black Magic Video of Shiv Sena Leader Bharat Gogawle Amid Row Over Raigad Guardian Post

MaharashtraMaharashtra Politics: Raj Thackeray Meets CM Devendra Fadnavis at Taj Lands End Amid Rumours of MNS–Sena UBT Alliance

MaharashtraMaharashtra Municipal Elections 2025: Mahayuti Alliance to Contest Civic Body Polls Together, Says CM Devendra Fadnavis

Maharashtra'Remembered the Advice My Mother Gave Me': Supriya Sule On Her WhatsApp Status

Maharashtra'Will Give News Soon': Uddhav Thackeray's Big Statement on Possible Alliance of Shiv Sena UBT and MNS