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The New Long-Term Budget of the European Union and New European Taxes

The New Long-Term Budget of the European Union and New European Taxes ec Forum TAX REVIEW 2015­1 Auke R. Leen* 1 INTRODUCTION The Multiannual Financial Framework (MFF) 2014­2020 of the European Union (EU) is the first long-term budgetary framework under the Treaty of Lisbon. A mid-term review/revision is a part of it. In this review, one of the important decisions is about new own resources: the introduction of European taxes. The MFF has been called a political power game among the budgetary institutions.1 The article answers the question: what are the chances of the introduction of new taxes given the results of the power game with the present MFF? The article starts with stating the MFF as a fiscal responsibility framework: the logical outcome of the long-term evolution of the budget. Subsequently, the most likely results of the institutional power game for the present MFF will be given: in theory the budget is curtailed, in practice the cut will probably not materialize. As a result the chances are high, that at the mid-term revision, EU taxes will be introduced to finance the budgetary gap. 2 THE MFF During the eighties of the last century, the yearly budgetary negotiations were plagued by stalwart negotiations between the European Council (Council) and the http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png EC Tax Review Kluwer Law International

The New Long-Term Budget of the European Union and New European Taxes

EC Tax Review , Volume 24 (1) – Feb 1, 2015

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Kluwer Law International
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Copyright © Kluwer Law International
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0928-2750
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Abstract

ec Forum TAX REVIEW 2015­1 Auke R. Leen* 1 INTRODUCTION The Multiannual Financial Framework (MFF) 2014­2020 of the European Union (EU) is the first long-term budgetary framework under the Treaty of Lisbon. A mid-term review/revision is a part of it. In this review, one of the important decisions is about new own resources: the introduction of European taxes. The MFF has been called a political power game among the budgetary institutions.1 The article answers the question: what are the chances of the introduction of new taxes given the results of the power game with the present MFF? The article starts with stating the MFF as a fiscal responsibility framework: the logical outcome of the long-term evolution of the budget. Subsequently, the most likely results of the institutional power game for the present MFF will be given: in theory the budget is curtailed, in practice the cut will probably not materialize. As a result the chances are high, that at the mid-term revision, EU taxes will be introduced to finance the budgetary gap. 2 THE MFF During the eighties of the last century, the yearly budgetary negotiations were plagued by stalwart negotiations between the European Council (Council) and the

Journal

EC Tax ReviewKluwer Law International

Published: Feb 1, 2015

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