EU budget: Costa looks for new EU-wide taxes – no proposal ruled out
After an inconclusive summit, new own resources are meant to limit national contributions. A corporate levy, a digital tax and emissions trading revenue are under discussion.
Archive image · Photo: Christophe Licoppe / European Union / Wikimedia Commons, CC BY 4.0 (cropped and resized)
After last week’s inconclusive EU summit, European Council President António Costa is looking for new EU-wide revenue sources for the next long-term budget. “To reach an agreement, we need to keep national contributions at a reasonable level,” Costa said, according to Euronews. An EU official said no proposal was excluded from being taken on board.
The Irish compromise retained the CORE levy on companies with annual turnover above €100 million and a 15% EU share of tobacco excise duty, which Luxembourg strongly opposes. The Commission is also examining a digital levy that would mainly hit large American and Asian firms. A proposal to channel 30% of emissions trading revenue to Brussels faces strong resistance in Poland.
Revenue from the CBAM carbon border mechanism and a levy on electronic waste are seen as the least controversial options. Parliament’s proposals, such as a tax on online gambling, were not adopted, to the disappointment of Czech EPP MEP Danuše Nerudová. Ireland’s Minister of State for European Affairs Thomas Byrne set conditions including that new own resources be ready by 1 January 2028.