1 Amendments of Pierre LARROUTUROU related to 2021/2010(INI)
Amendment 30 #
Draft opinion
Paragraph 5
Paragraph 5
5. Maintains that the EU digital levy will be part of a basket of new own resources whose proceeds will be at least sufficient to cover, through the long-term EU budget, the future repayment costs of(principal and interests) arising from the EU Recovery Instrument’s grants component, expected to be around EUR 15 billion per year on average and EUR 29.25 billion maximum per year from 2028 until 2058, while avoiding a reduction in expenditure for EU programmes; notes that the revenue is estimated to be in the range of several billion euros to several tens of billions of euros depending on, among other factors, the taxable revenues, the taxable entity, the place of taxation, the calculation and the rate of tax; , in compliance with the principle of universality of the EU budget, and whose proceeds should complement investment needs for the green and digital transformations; the European Commission estimated the EU’s investment needs to pursue digital transformation at EUR 125 billion per year (‘Identifying Europe's recovery needs’)1a, and the Commission has estimated the investment needed at EU level to achieve the current 2030 climate objectives at EUR 240 billion per year1b plus additional amounts of EUR 130 billion per year for environmental objectives, EUR 192 billion per year for social infrastructure and EUR 100 billion per year for Europe’s wider transport infrastructure (‘Sustainable Europe Investment Plan’)1c; this adds up to a total of at least EUR 787 billion of investment needs per year; notes that the revenue is estimated to be in the range of several billion euros to several tens of billions of euros depending on, among other factors, the taxable revenues, the taxable entity, the place of taxation, the calculation and the rate of tax; is surprised to see that the European Commission’s preliminary estimates fluctuated considerably, in ‘Fair Taxation of the Digital Economy’1d, the European Commission estimated that “EUR 5 billion in revenues a year could be generated for Member States if the tax is applied at a rate of 3%”, while in its 2020 ‘Financing the Recovery Plan for Europe’1e, the European Commission estimated that it would generate EUR 1.3 billion per year; calls on the European Commission to propose a tax scheme for multinational digital companies capable of raising at least EUR 5 billion per year to help pay for the repayment and financing costs. _________________ 1ahttps://eur-lex.europa.eu/legal- content/EN/TXT/PDF/?uri=CELEX:5202 0SC0098&from=EN 1b https://ec.europa.eu/info/sites/info/files/ec onomy- finance/assessment_of_economic_and_in vestment_needs.pdf 1c https://www.europarl.europa.eu/doceo/doc ument/A-9-2020-0198_EN.html 1d https://ec.europa.eu/taxation_customs/bus iness/company-tax/fair-taxation-digital- economy_en 1e https://ec.europa.eu/info/sites/info/files/fa ctsheet_3_04.06.pdf