Maltese MEP Alfred Sant voted against a resolution which proposes a system of Common Corporate Tax, and a European-level Financial Transaction Tax, amongst its proposed new sources. Although not in concept against the EU having its own budgetary resources, Dr Sant said he is against own resources coming in the form of a Common Corporate Tax or a Financial Transaction Tax.

 “As I always maintained throughout this legislature, tax harmonisation cannot be the answer for the Union’s weaknesses,” explained the Maltese MEP before voting against this resolution.

Sant said that in the context of socioeconomic unevenness within the EU, a single tax system would only make the situation worse. Indeed, those peripheral states relying on financial services for revenue could end up increasingly relying on the EU budget, instead of their own economic mobilisation.

“While open to the idea of investigating a system whereby in part, the EU could be financed on the basis of own resources, I am against that these take the form of a Common Corporate Tax, or a Financial Transaction Tax.”

The Report comes also in the context of the need to bridge the upcoming Brexit gap in the EU budget. In its search of new own resources, the Report emphasises important matters such as green taxation, and the need to end rebates, which Sant is in favour of.

The resolution passed with 442 votes in favour, 166 against, and 88 abstentions.