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EU Floats Taxing 70,000 Companies for Market Access, FT Reports

May 31, 2020, 10:38 PM

The European Union could charge 70,000 companies for access to the EU market to help pay for its coronavirus recovery program, Budget Commissioner Johannes Hahn was quoted as saying in a Financial Times interview.

Hahn said there’s no alternative to giving the European Commission new sources of revenue to service the debt it would take on under the 750 billion-euro ($833 billion) plan, according to the FT. He called on EU member countries to back the company tax.

The commission’s blueprint for the recovery fund includes proposals for several new “own resources,” including revenue from emissions trading and taxing digital ...

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