Germany Studies Windfall Tax on Oil Groups Amid Rising Fuel Prices

The German government is examining the introduction of a windfall profits tax on oil groups, according to the Finance Ministry. Finance Minister Lars Klingbeil has tasked his department with studying the measure, whose revenues would fund rapid tax relief. Among the options under consideration is an increase in the per-kilometer commuting allowance, deductible from income tax. The primary beneficiaries would be those "most severely affected by the surge in fuel prices," according to the ministry.