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    1. cloudx12 on

      Article text:

      “Brussels is to propose a levy on large companies operating in Europe as part of an effort to create new streams of independent funding for the EU’s €1tn-plus common budget.

      The so-called corporate resource for Europe, outlined in a draft European Commission proposal seen by the Financial Times, is to be unveiled next week but needs unanimous support from member states to enter into force.

      The annual tax would apply to all companies with turnover in excess of €50mn after taking account of subsidies and taxes, what the EU defines as “net turnover”.

      All large companies operating in Europe would be covered by the levy regardless of where they are headquartered, according to the draft, and a “bracket system” would require higher contributions from the groups with the highest net revenues.

      Other revenue raising measures to be unveiled next week include the EU taking a share of higher tobacco excise duties, a charge for non-recycled electronic waste and a handling fee for long-distance ecommerce packages — a levy that would mainly hit imports from China.

      The commission regularly suggests new Europe-wide taxes when proposing the EU’s seven-year budget, but the measures — such as a financial transaction tax — have often failed to secure backing.”

    2. softDisk-60 on

      Nobody should be allowed to have 50M in the EU . We can all be poor together

    3. Diligent_Craft_1165 on

      Not a chance Ireland allows this to go ahead. Their whole economy is built on attracting large companies to declare their profits there.

    4. A few countries might veto this, not just Ireland, because the last thing we need in Europe is even higher taxes. Maybe it’s time to look at spending, in particular the vast number of EU and national regulators busy coming up with ever more regulations that are holding back the EU economy.

    5. Lord_Vacuum on

      *Come on baby, eat the Rich*
      *Put a bite on the son-of-a-bitch*

    6. deceased_parrot on

      And so it begins. I am surprised they didn’t play the “but it’s only temporary to pay for the war!” soundbite. I wonder how long it will take them _this time_ to lower the ceiling to, oh, 1 million? 500,000?

    7. Mr_Chief1 on

      So, even fewer startups and businesses will consider Europe as a base. How people cheer for this is beyond me. It will just hurt innovation and business.

    8. JJOne101 on

      This seems really low. A chain of 10 supermarkets is above this limit.

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