From POLITICO · · 50s
EU Tax Deal Funds Next Budget
EU may use global tax revenue to fund next budget amid tax talks.
In brief
EU may use global tax revenue to fund next budget amid tax talks. EU explores redirecting multinational tax revenue to cover next budget after years of deadlock. Originally reported by POLITICO.
EU Budget Funding Plan
European Commission explores using global tax revenue to fund next seven-year EU budget.
Tax Agreement Stalling Talks
EU governments remain divided over five proposed new taxes despite commission's €65 billion annual revenue estimate.
Corporate Tax Debate
CORE tax faces strong opposition in Germany while corporate income tax targets profitability instead of revenue.
“The corporate income tax is about taxing companies based on their profitability. core is not about that, core is about taking a toll blindly”
Tax Deal Details
OECD requires 15% minimum tax on multinationals with €750m turnover, but US secured exemption from rules.
Budget Deadline Pressure
Costa urges leaders to finalize budget deal by year-end before elections risk derailing negotiations.
The bottom line
EU explores redirecting multinational tax revenue to cover next budget after years of deadlock.
