Ireland hails EU tax agreement on carbon imports and electronic waste – POLITICO

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The president of the European Council, António Costa, urged national leaders to home in on several potential taxes during their next gathering in Brussels on Oct. 15. Supporters argue that own resources are essential to generate more revenue and reduce national contributions to the EU from 2028 to 2034.

With less than four months to go until the informal deadline, the bloc’s governments have shown openness towards a tax on foreign carbon imports, officially known as the Carbon Border Adjustment Mechanism (CBAM), and a separate levy on non-collected electronic waste.

“Of the Commission’s proposals for new Own Resources, the most consensual among Member States is CBAM, with many open to increasing the call rate further,” the Irish Council presidency, which is steering discussions, wrote in a note to EU governments seen by POLITICO.

Under current rules, capitals must funnel 75 percent of CBAM revenues to the EU budget, and retain 25 percent for their domestic budgets.

CBAM is expected to generate, on average, €1.644 billion per year, roughly adding up to €11.5 billion for the whole budget cycle, according to an updated estimate by the European Commission seen by POLITICO.

The Irish presidency also noted “a broad degree of support” among governments towards the electronic waste tax, which is expected to generate €17.9 billion per year. They added that criticism towards the levy largely focuses on statistical issues.