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German Windfall Tax Delayed Until Beginning of December

Olaf Scholz

Olaf Scholz

Photographer: Liesa Johannssen-Koppitz/Bloomberg

The German government will delay the start of a planned windfall levy for power producers, the Economy Ministry said. 

Instead of applying the tax retroactively from September, it will go into effect starting December until the end of June 2023, according to a statement on Friday.