FACTBOX-Sources of financing for 750 bln euro EU recovery package

Thomson Reuters Foundation | Sep 16, 2020 at 7:43 PM
  • European Union governments are considering a number of new EU-wide taxes that would allow the 27-nation bloc to repay the planned 750 billion euros ($888 billion) of borrowing for boosting the economy after the COVID-19 pandemic.
  • The executive Commission estimates revenues could reach 7 billion euros annually.
  • The Commission estimated in 2018 that a 3% tax on the gross turnover of companies with total revenues above 750 million euros and EU revenues above 50 million euros would yield 5 billion euros annually.