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European Parliament Approves Resolution on New Sources of EU Revenue

12 May 2023

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Proposed Changes

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European Union

On 10 May 2023, the European Parliament approved in a plenary session the resolution on new sources of revenue for the EU budget to pay back the debt incurred under the EU recovery plan. As previously reported, this includes corporate tax-based own resources, the financial transaction tax, a new fair border mechanism, a tax on crypto-assets, green own resources, and national contributions based on statistics. The resolution was adopted with a vote of 356 for, 199 against, and 65 abstentions.