SEOUL, The main opposition Democratic Party (DP) will push to introduce a windfall tax for banks and refiners reaping record profits due to hikes in oil prices and interest rates, party leader Lee Jae-myung said Friday.
A windfall tax is a one-time surtax imposed on companies deemed to have made unreasonably high profits.
Lee, chairman of the DP, made the suggestion at a party meeting, noting countries like the United States and Italy already levy such one-off taxes on energy firms.
"We need to improve the livelihood of people suffering from high interest rates with windfall tax revenues, or contributions from banks," he said.
Source: Yonhap News Agency