The Commission is considering imposing a new tax on large businesses to boost European budgets as its members are starting to equip themselves. The Financial Times wrote that the proposal is called a “corporate resource for Europe” and is officially expected to be presented next week. However, in order to enter into force, unanimity is required between Member States. It will be annual and will apply to all companies with a net turnover of more than 50 million euros, taking into account subsidies and taxes, according to the EU’s definition of “net income”. Also, the measure will cover all the major EU companies, regardless of their country of their country. The draft provides for the introduction of tax scales so that companies with the highest net turnover make more proportionally. However, reactions are expected, especially from some rich countries, or those who try to bring foreign investors. In addition, there is a serious risk. It is not clear whether the money will be invested in defense and by what criteria. […]
Source: News Beast
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