A minimum tax of 2% on centi-millionaires, i.e. people with investable liquid assets of €100 million or more, could raise €67 billion a year, according to the EU Tax Observatory in a policy note published on Monday 17 March.
A 3% tax could generate €121 billion in tax revenue. According to a recent note by the European think-tank Bruegel, the EU needs an extra €250 billion a year to meet its defence investment needs. What’s more, Mario Draghi’s report on the future of European competitiveness estimates that the EU needs to invest €800 billion a year to stay in the race.
A minimum tax of 2% on billionaires would cover a quarter of the EU’s defence investment needs, and a tax of 3% would cover almost half.
This note will be discussed on Tuesday 18 March at the EU Tax Symposium, organised jointly by the European Commission and the European Parliament.
Read the note: https://aeur.eu/f/fz0 (Original version in French by Anne Damiani)