Financing the EU budget: an assessment of five proposals for new resources Four of five new European Union budget ‘own resources’ proposed by the European Commission should go ahead with changes; the fifth should be scrapped

5️⃣ Financing the EU budget: an assessment of 5 proposals for new resources

Will the Commission's suggestions for revenue raising in the next EU budget support Europe's goals?

📑 Read the Analysis by @zsoltdarvas.bsky.social and @roeldom.bsky.social
🔗 buff.ly/Qk8Oxhn
#EconSky

EU aid for domestic revenue mobilisation after the Sevilla Commitment The 2025 Sevilla Commitment renews the push for domestic revenue mobilisation, with the EU needing stable, targeted support for low-income partners

🌍 EU aid for domestic revenue mobilisation after the Sevilla Commitment

💡 The EU should lead on turning the Sevilla Commitment into credible action.

📑 Read the Policy Brief by @roeldom.bsky.social, Costanza Greppi Maturana and Pascal Saint-Amans
🔗 buff.ly/KXiTL4k
#EconSky

Debt sustainability in Japan and the case for a fiscal council Rising rates are testing Japan’s fiscal framework, with debt dynamics hinging on growth and pointing to the need for adjustment and a fiscal council

🗾 Debt sustainability in Japan and the case for a fiscal council

What fiscal reforms will be needed to ensure Japan can service its public debt?

📑 Read the Working Paper by Tomomi Miyazaki, @marie-lappe.bsky.social and @roeldom.bsky.social
🔗 buff.ly/jmHCi9N
#EconSky

We have arrived.👋

The economic departments of the @ec.europa.eu are now on Bluesky to share with you news, analyses, new initiatives, publications on everything related to EU economy, finance, budget, taxations, customs, reforms and investments.

Join us and spread the word.
It'll be fun. 🤘

Tax, sovereignty and the EU How will Europe manage the collision of money, sovereignty and global reform?

💰 Tax, sovereignty and the EU

❓️How will Europe manage the collision of money, sovereignty and global reform?

🎙️ In this episode of The Sound of Economics, @rebeccawire.bsky.social sits down with Bruegel’s Pascal Saint-Amans & @roeldom.bsky.social to talk taxes.

🔗 Listen now: buff.ly/zftOMme

💶 How the global minimum tax amendments could reshape Europe’s tax incentives

What will the final agreement mean for EU countries?

🔖 Read the Analysis by @roeldom.bsky.social
🔗 www.bruegel.org/analysis/how...
#EconSky

Shifting priorities, slow progress: an analysis of EU tax recommendations EU tax advice has broadened to new objectives, yet uneven implementation highlights the limits of soft coordination

🔍 Shifting priorities, slow progress: an analysis of EU tax recommendations

➡️ With taxation largely a domestic competence, have the Commission's efforts to coordinate EU tax policy been effective?

🖊️ @roeldom.bsky.social, Costanza Greppi Maturana and Pascal Saint-Amans
🔗 buff.ly/qOrjUfG
#EconSky

EU imports of Chinese electric vehicles steady after tariffs

📈 From 2019 to 23 imports grew substantially
📆 Oct-24, EU passed tariffs on 🇨🇳 produced EVs
🚫 Imports have since steadied at 1/2 billion monthly

📊 Explore @bruegel.org dataset:
european-clean-tech-tracker.bruegel.org/technology/e...

Digital taxes put US-EU trade talks under pressure – DW – 09/01/2025 Trump is now threatening retaliation over EU tech rules, shaking the bloc’s 15% tariff deal. Lacking China’s rare earths leverage, Brussels is scrambling for countermeasures — what cards can it still ...

Despite the recent US-EU #trade talks, digital #taxes and #tech rules are still a flashpoint — Washington threatens retaliation while Brussels stands firm. Glad I could contribute to this Deutsche Welle piece.

Read more 👉 www.dw.com/en/digital-t...

CORE concerns: why a turnover-based levy is wrong for the EU budget A plan to raise EU revenues from companies benefitting from the single market would create risks and distortions, and should be withdrawn

The #EU proposed CORE levy taxes turnover, not profit. It penalises low-margin firms. It’s regressive & risks tax cascading.

Together with @zsoltdarvas.bsky.social & Marie-Sophie Lappe, I argue it should be scrapped.

👉 www.bruegel.org/first-glance...

#EUBudget #Tax #MFF @bruegel.bsky.social

The European single market: restarting the perpetual revolution Boosting the EU single market needs stronger rule enforcement and targeted harmonisation, especially in services and regulated professions

Just in time for the summer break:
@roeldom.bsky.social and my take on where the Single Market agenda is failing and what would need to change to make it a success

www.bruegel.org/working-pape...

@bruegel.bsky.social #SingleMarket

Our Blueprint on the #EU #MFF is out.

On #OwnResources, we outline criteria for new own resources, arguing that they should primarily advance EU policy goals.

📖 Read more below 👇

The implications of G7 agreement on the global minimum tax Though the European Union might not like a ‘side-by-side’ global minimum tax system, it has little choice but to work with it for now

🌍 The implications of G7 agreement on the global minimum tax

In return for its support, the US secured a carve out for its companies.
🔍 But is this as straightforward a win for the Trump administration as it seems?

🖊️ Pascal Saint-Amans
🔗 buff.ly/dPSaoNv
#EconSky #G7 #tax

No government, no plan: Brussels braces for credit downgrade An in-depth look at Brussels’ debt shows how a severe S&P downgrade Friday could trigger a cash crunch — and a constitutional showdown.

Glad to share some thoughts in @brusselstimes.com on the #Brussels Region’s growing fiscal troubles - what a credit downgrade could mean and the risks this poses for #debt management.

📖 www.brusselstimes.com/economics/16...

#Brussels #PublicFinance #Debt #Bruegel

Boosting EU budget revenues with a defence spending shortfall levy The European Union’s defence spending laggards could be asked to pay more into the common budget

The European Union’s defence spending laggards could be asked to pay more into the common budget. This new resource would underscore the EU’s commitment to collective security.

🖊️ Zsolt Darvas, @roeldom.bsky.social‬ , @steinbacharmin.bsky.social ‬ & Pascal Saint-Amans #EconSky

Critical raw materials set be be a key lever in global trade war As global trade tensions intensify, the increasing demand for elements from the lesser known corners of the periodic table is making them an increasingly important piece on the new geopolitical chess ...

“As the #EU deepens its partnerships to secure critical #minerals, the situation in eastern #Congo highlights a stark dilemma: how to uphold its commitments to peace and democratic governance while navigating a global race for resources,” Dom told @euronews.com.

📌 A 𝗱𝗼𝗺𝗲𝘀𝘁𝗶𝗰 𝗺𝗶𝗻𝗶𝗺𝘂𝗺 𝘁𝗮𝘅 of 15% on the top 1% of firms could raise 14% more corporate tax revenue on average. By contrast, a global minimum tax would raise only a quarter of that amount due to generous carve-outs and fewer firms in scope. (n/n)

📌 In every country studied, more than 25% of the largest firms pay less than 15% in effective taxes—even though statutory rates are higher. (3/n)

📌 Effective tax rates follow a hump-shaped pattern—small and very large firms pay lower effective tax rates, while 𝗺𝗶𝗱-𝘀𝗶𝘇𝗲𝗱 𝗳𝗶𝗿𝗺𝘀 𝗯𝗲𝗮𝗿 𝘁𝗵𝗲 𝗵𝗶𝗴𝗵𝗲𝘀𝘁 𝗯𝘂𝗿𝗱𝗲𝗻. (2/n)

Effective Tax Rates, Firm Size and the Global Minimum Tax This paper documents new facts on corporate taxation and the revenue potential of corporate minimum taxes, leveraging firm-level tax returns from 16 countries. First, .

🚨 Paper alert 🚨

𝗪𝗵𝗶𝗰𝗵 𝗳𝗶𝗿𝗺𝘀 𝗯𝗲𝗻𝗲𝗳𝗶𝘁 𝗺𝗼𝘀𝘁 𝗳𝗿𝗼𝗺 𝗰𝗼𝗿𝗽𝗼𝗿𝗮𝘁𝗲 #𝘁𝗮𝘅 𝗶𝗻𝗰𝗲𝗻𝘁𝗶𝘃𝗲𝘀?

Pierre Bachas, @annebrockmeyer.bsky.social, Camille Semelet and I analyze firm-level 𝗗𝗮𝘁𝗮 𝗳𝗿𝗼𝗺 𝟭𝟲 𝗰𝗼𝘂𝗻𝘁𝗿𝗶𝗲𝘀 to explore how effective tax rates vary across firm size.

What do we find?

Read more 👇 (1/n)

📊 Chart of the week: defence expenditure in 2024 and capital city distance to Moscow, European NATO countries 🪖

🖊️ By @guntramwolff.bsky.social @steinbacharmin.bsky.social and @jzettelmeyer.bsky.social

🔗 Policy Brief here: buff.ly/4TTXiYf

What Is VAT? The Tax Trump Hates and the Rest of the World Won’t Give Up Value-added taxes, which the president says discriminate against U.S. exporters, fund a large share of government budgets in many countries.

“The reason VAT is accepted by the World Trade Organization is precisely because it isn’t discriminatory,” said Dom.

www.wsj.com/economy/glob...

🗓️ Save the date
➡️ Prospects for reducing sovereign debt while tackling ongoing crises

Join the discussion with @jzettelmeyer.bsky.social @roeldom.bsky.social and other
discussants!
#EconSky

https://buff.ly/3QyxBRd

There are two scenarios: EU countries cooperating: in that case, they can agree to re-label stuff and use the port with lowest tariffs. German companies, for example, can open subsidiaries in Netherland and export from there if Germany subject to tariff and NL not. or other scenario:

Europe’s challenge and opportunity: building coalitions of the willing The European Union should take the lead in convening alliances of countries to counteract threats to the global order

To respond to Trump's all-out attack, Europe must overcome 2 obstacles: its small size and large diversity. In this piece with O. #Blanchard, we claim that it should build coalitions of the willing. We explore 3 cases: climate action, trade and corporate taxation.
www.bruegel.org/analysis/eur...

The crisis in the #DRC creates an uncomfortable challenge for the #EU.

I argue that despite its critical mineral interests, the EU should be strict on #Rwanda to maintain credibility and encourage conflict de-escalation 👇

Looking for economists to follow on #econsky? Look no further, find Bruegel researchers in our official starter pack!
go.bsky.app/TMvo4JP

I am thrilled to announce that I have joined @bruegel.bsky.social as an 𝗘𝗰𝗼𝗻𝗼𝗺𝗶𝘀𝘁 and 𝗥𝗲𝘀𝗲𝗮𝗿𝗰𝗵 𝗙𝗲𝗹𝗹𝗼𝘄! 🎉

I will be diving into (European) economic issues, with a particular focus on hashtag #tax policy.

Very excited to be part of such a brilliant team!

Hello, Bluesky!

Bruegel is here, ready to explore the big questions of economic policy.

Let’s connect!

Trump win puts global corporate tax deal ‘in peril’ Experts believe that countries will now be unlikely to apply rules over fears of retaliation from Trump-led administration

Trump win puts global corporate #tax deal ‘in peril’

#InternationalTax #Pillar2

www.ft.com/content/75cd...