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Sustainability-oriented Future EU Funding: A Financial Transaction Tax
Mendel University in Brno. (FairTax)
Mendel University in Brno. (FairTax)
Mendel University in Brno. (FairTax)
2016 (English)Report (Refereed)
Abstract [en]

Although  the  responsibility  for  realizing  the  Europe  2020  strategy  is  shared  between the EU and its 28 member states, the main criticism of the current EU budget relates to the lack of a link between the budget and Europe 2020  strategy.  Therefore a new  budget design as well as alternative revenue sources is currently explored within a  mid-term review. One of the possible candidates is a Financial Transaction Tax (FTT). To research FTT revenue potential, a model based on  a remittance system was designed. We analyse full or partial replacement of VAT- and GNI-based own resources by the transfer of the tax revenues from a FTT raised on a national level to the EU budget. The research reveals that FTT-based own resources would be able to fully replace GNI-based own resources and VAT-based own resources only for some EU member states. However, the results also show that, from the EU11 (28) perspective, the tax is sufficient to fully replace VAT- or GNI-contributions if levied on the EU11 (28) level (not on the national level) as a direct payment to the EU budget without tracking the source Member State.

Place, publisher, year, edition, pages
Umeå: Umeå Universitet , 2016. , 57 p.
Series
FairTax: Working Paper Series, 05
Keyword [en]
Sustainability, funding, FTT, European Union, budget
National Category
Law and Society
Research subject
Economics
Identifiers
URN: urn:nbn:se:umu:diva-127658OAI: oai:DiVA.org:umu-127658DiVA: diva2:1047123
Projects
FairTax
Funder
EU, Horizon 2020, 649439
Available from: 2016-11-16 Created: 2016-11-16 Last updated: 2016-11-17Bibliographically approved

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