EU sees $26.40b funds from plastics, CO2, corporate tax

BRUSSELS, May 02 (Reuters): European Union (EU) 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 per cent of the total EU budget revenue.

The Commission wants a 3.0 per cent common consolidated corporate tax base to harmonise 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 per cent share of revenues from national emission trading system auctions to be worth 3.0 billion euros a year to the EU budget.

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