EU to Consider Wealth and Withholding Taxes for its Budget

European envoys will listen to presentations on two new potential sources of revenue next week: a tax on high net-worth individuals and a withholding tax on outgoing income flows from the EU.

The presentations will be discussed at the so-called Working Party for Own Resources meeting on April 29, which is meant to discuss the EU’s means to raise its own revenue.

The discussion is meant to inform the EU’s next seven-year budget cycle, which will start in 2028.The EU’s operating budget is made of contributions from its member states, customs duties and value-added tax.

• The bloc ...