EU sees 22 billion euros of new budget funds from plastics, CO2, corporate tax

BRUSSELS (Reuters) – European Union nations should contribute new funds to the bloc’s budget to fill the gap left by Britain’s exit next year collected from taxing digital services, plastic waste and carbon emissions, the European Commission said on Wednesday.

The new funds will amount to about 22 billion euros ($26.40 billion) per year for the 2021-27 period, or about 12 percent of the total EU budget revenue.

The Commission wants a 3 percent common consolidated corporate tax base to harmonize national rules on tax deductions, including for digital services companies. It said this could add 12 billion euros per year to the budget.

It also proposed that member states contribute 20 percent share of revenues from national emission trading system auctions to be worth 3 billion euros a year to the EU budget.

EU governments should also contribute 80 cents per kilogram of non-recycled plastic packaging waste for a total amount estimated at 7 billion euros for the budget.

($1 = 0.8335 euros)

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