“New tax revenues are required to maintain sound public finances as wel close the investment gap”, said some fifteen NGOs in a joint letter to the European Council on Tuesday 18 March.
CAN Europe, Oxfam, the European Environmental Bureau (EEB) and Action Against Hunger feel regret that the own resources package proposed by the European Commission has “not yet been adopted”.
Blocked by the Council of the EU since 2023, this package includes a tax on emissions trading (ETS), resources generated by the Carbon Border Adjustment Mechanism (CBAM) and a tax on multinationals.
The NGOs have proposed three options for new own resources (NRP) to the EU Council: - a tax on extreme wealth; - a tax on the profits and ownership of the fossil fuel industry; - aviation taxes.
Taxing large fortunes at 5% could bring in 286.5 billion euros a year, according to an annual report on taxation by the European Commission.
The NGOs are proposing to apply a surcharge to the minimum corporation tax, but one that would be targeted at companies in the fossil fuel sector.
The introduction of a €0.33/litre tax on kerosene at European level via the Energy Taxation Directive would generate “almost €27 billion in revenues every year”. A tax on passengers who fly frequently (a frequent flier levy) would bring in 63.6 billion euros a year.
The EU budget and the NRPs are on the agenda for the European Council on Thursday 20 March. (Original version in French by Florent Servia)