Brussels plans to propose a levy on large companies with turnovers exceeding €50 million to generate independent funding for the EU’s €1 trillion budget, requiring unanimous support from member states. Additional revenue measures include higher tobacco excise duties, a charge for non-recycled electronic waste, and a handling fee for ecommerce packages, amid resistance from net contributor countries.
Explain It To Me Like I’m 5: The European Union wants to make big companies that earn a lot of money pay a special fee to help pay for important things that everyone in Europe needs, like safety and schools.
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