EU Proposes New Tax on Large Corporations to Expand Trillion-Euro Budget Fund

According to a report by Jinse Finance, citing the Financial Times, a draft proposal from the European Commission reveals that authorities in Brussels plan to introduce a so-called "European Corporate Resource Tax" on large companies operating within the EU. The aim is to establish an independent source of funding for the EU's joint budget, which exceeds one trillion euros. This tax reform plan, set to be announced next week, will require unanimous approval from all member states before it can take effect. The tax will apply to all companies with annual net revenues exceeding 50 million euros, regardless of where their headquarters are located. As outlined in the draft, the annual tax will be implemented using a "tiered" system, imposing a heavier tax burden on corporate groups with higher net incomes.