EC to require EU members to make temporary contribution of 0.5% of their companies’ profits from 2024 as a prelude to a European corporate tax

european commission

BancaMarch| Brussels is asking EU countries for €16 billion as a prelude to the European corporate tax. According to Expansión, the European Commission will require EU countries to make a temporary contribution of 0.5% of their companies’ profits from 2024 and until they agree on a common tax on companies to replace it. The aim of the measure is to strengthen the EU’s coffers in order to be able to cope with the higher costs that the current scenario of higher rates entails for the aid programme associated with Next Generation, the war in Ukraine, the migratory challenge and the announced technological and economic shield against external threats such as China. At the same time, the organisation presided over by Ursula Von der Leyen has set itself the objective of increasing taxes on polluting emissions so that, together with the aforementioned contribution linked to corporate profits, its income will increase by €36.5 billion.

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