The EU May Need to Introduce a Bloc-Wide Tax After Brexit

Commission sees gap in EU finances after U.K.’s withdrawal
Bloc’s executive arm publishes reflection paper on EU budget

Among the options tabled is applying common energy or environmental taxes.
Photographer: Martin Leissl/Bloomberg

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By Nikos Chrysoloras

June 28, 2017 at 10:24 AM UTC

Updated on

June 28, 2017 at 11:30 AM UTC

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The European Union should consider introducing common taxes as it seeks to overhaul its budget and cover a more-than 10 billion-euro ($11.4 billion) annual financing hole created by Brexit, the bloc’s executive arm said.