European Union nations should contribute new funds to the bloc's budget to fill the gap left by Britain's exit next year collected from taxing digital services, plastic waste and carbon emissions, the European Commission said on Wednesday.

The new funds will amount to about €22 billion per year for the 2021-27 period, or about 12 per cent of the total EU budget revenue.

The Commission wants a 3 per cent common consolidated corporate tax base to harmonise national rules on tax deductions, including for digital services companies. It said this could add €12 billion per year to the budget.

It also proposed that member states contribute 20 per cent share of revenues from national emission trading system auctions to be worth €3 billion a year to the EU budget.

EU governments should also contribute 80 cents per kilogram of non-recycled plastic packaging waste for a total amount estimated at €7 billion for the budget.

Sign up to our free newsletters

Get the best updates straight to your inbox:
Please select at least one mailing list.

You can unsubscribe at any time by clicking the link in the footer of our emails. We use Mailchimp as our marketing platform. By subscribing, you acknowledge that your information will be transferred to Mailchimp for processing.