The EU plans to impose a new tax on large corporations to expand the trillion-dollar budget funding pool.

According to reports, a draft proposal by the European Commission shows that the Brussels authorities plan to impose a so-called "European Corporate Resources Tax" on large corporations operating in Europe, aimed at creating an independent source of revenue for the EU budget of over 1 trillion. This tax reform proposal, which will be announced next week, must be unanimously approved by member states to take effect. The tax targets all companies with annual net revenues exceeding 50 million, regardless of the location of their headquarters. According to the draft design, the annual tax will use a "progressive" collection mechanism, imposing a heavier tax burden on corporate groups with higher net income.