May 2, 2018 / 11:41 AM / 5 months ago

EU sees 22 billion euros of new budget funds from plastics, CO2, corporate tax

BRUSSELS (Reuters) - European Union nations should contribute new funds to the bloc’s budget to fill the gap left by Britain’s exit next year collected from taxing digital services, plastic waste and carbon emissions, the European Commission said on Wednesday.

FILE PHOTO: Smoke billows from the chimneys of Belchatow Power Station, Europe's biggest coal-fired power plant, in this May 7, 2009 file photo. The lignite-fired power plant in Belchatow, European Union's biggest polluter, will need to buy up to 20 million tonnes of CO2 emission permits by 2013, its chief Jacek Kaczorowski told Reuters on August 21, 2009. The plant released the equivalent of nearly 31 million tonnes of carbon dioxide into the atmosphere last year, topping by 4 million tonnes its EU-set ceiling as part of the bloc's attempts to curb global warming. To match Interview POLAND-BELCHATOW/ REUTERS/Peter Andrews/Files (POLAND POLITICS ENVIRONMENT ENERGY BUSINESS) - GM1E58M0BKI01/File Photo

The new funds will amount to about 22 billion euros ($26.40 billion) per year for the 2021-27 period, or about 12 percent of the total EU budget revenue.

The Commission wants a 3 percent common consolidated corporate tax base to harmonize national rules on tax deductions, including for digital services companies. It said this could add 12 billion euros per year to the budget.

It also proposed that member states contribute 20 percent share of revenues from national emission trading system auctions to be worth 3 billion euros a year to the EU budget.

EU governments should also contribute 80 cents per kilogram of non-recycled plastic packaging waste for a total amount estimated at 7 billion euros for the budget.

($1 = 0.8335 euros)

Reporting by Alissa de Carbonnel @AdeCar; Editing by Foo Yun Chee

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