https://www.msn.com/en-gb/money/oth...-million-euros-to-shore-up-budget/ar-AA1IJ5Cj
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BRUSSELS (Reuters) -The European Commission on Wednesday proposed to tax companies with a net turnover exceeding 100 million euros ($116 million), one of five new revenue streams aimed at generating 58.5 billion euros annually for the European Union's next seven-year budget.
The following are the new revenue streams proposed by the EU's executive Commission:
* An annual lump-sum corporate levy on EU companies and non-EU companies doing business in the European Union and making at least 100 million euros in net annual turnover. Expected to raise about 6.8 billion euros annually.
* A levy on non-recycled plastic packaging waste calculated by the kilo, adjusted annually for inflation and expected to generate 15 billion euros yearly.
* A tobacco excise duty estimated to raise 11.2 billion euros annually.
* Allocating to the EU budget some of the revenue from the sale of carbon permits in the EU Emissions Trading System (ETS), which currently goes to EU countries. This is expected to generate 9.6 billion euros yearly.
* Allocating part of the revenue from the upcoming EU carbon border tariff on polluting imported goods to the EU budget. This is expected to generate 1.4 billion euros yearly.
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BRUSSELS (Reuters) -The European Commission on Wednesday proposed to tax companies with a net turnover exceeding 100 million euros ($116 million), one of five new revenue streams aimed at generating 58.5 billion euros annually for the European Union's next seven-year budget.
The following are the new revenue streams proposed by the EU's executive Commission:
* An annual lump-sum corporate levy on EU companies and non-EU companies doing business in the European Union and making at least 100 million euros in net annual turnover. Expected to raise about 6.8 billion euros annually.
* A levy on non-recycled plastic packaging waste calculated by the kilo, adjusted annually for inflation and expected to generate 15 billion euros yearly.
* A tobacco excise duty estimated to raise 11.2 billion euros annually.
* Allocating to the EU budget some of the revenue from the sale of carbon permits in the EU Emissions Trading System (ETS), which currently goes to EU countries. This is expected to generate 9.6 billion euros yearly.
* Allocating part of the revenue from the upcoming EU carbon border tariff on polluting imported goods to the EU budget. This is expected to generate 1.4 billion euros yearly.
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