EU Plastic Tax Included in the Corona Recovery Deal

EU has agreed on a €750bn coronavirus pandemic recovery package that will include a plastic tax.

The EU Council (member states head of states) has agreed upon the Corona recovery deal.

EU Institutions will borrow € 750 Billions on the financial markets and distribute it to the members states. France will receive € 40 billions for instance.

EU institution and not the member states will be responsible to repay the loan.

EU institutions will receive new fiscal competencies to enable repayment; including:

  • EU digital tax (tax on big digital multinational companies)
  • Environmental taxes:
    • a Plastic Tax
    • Carbon emission levy on EU imports.

The Plastic tax will be introduced as from 1 January 2021 and will be calculated on the weight of non-recycled plastic packaging waste “with a rate of €0.80 / KG.

Import of Indian and Chinese steel in the EU will probably be taxed.

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