TNPSC Thervupettagam

Solidarity Tax on Pandemic Winners

April 12 , 2021 1312 days 936 0
  • The International Monetary Fund recently announced Solidarity Tax on Pandemic Winners.
  • That is, the companies that prospered during COVID-19 crisis should pay additional tax to show solidarity towards those hit hardest by the pandemic.
  • It is a temporary tax.
  • It shall be imposed to reduce social inequalities that increased during the recent health crisis.
  • The solidarity tax was introduced in Germany in 1991 after the East and West Germany were joined together.

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