May 11
2021
Anjum Shabbir
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20th October 2020
Banking & Finance Covid-19 Institutional law Internal Market Tax

Editorial Comment: “Is it time to talk about genuine EU taxes and the reform of the EU’s ‘tax architecture’?”

The EU’s budget represents approximately 1% of the Union’s GDP. This is in stark contrast to the size of Member States’ budgets, which amounts to a range of 30 to 35% of the respective national GDP. The dwarfish volume of the EU’s finances pales in comparison to the scope of national chequebooks, as it also strikes a powerful contrast to the ambitious goals that the EU is committed to pursue. How is the EU to ensure peace, prosperity and equality when its budget amounts to approximately a fifth of the United States’ annual military spending? Moreover, two thirds of the revenue side of the EU’s current budget still depends on contributions from the Member States.

To a large extent, these anomalies can be explained by the fact that

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