Reform of the EU's Own Revenues and Covering the Expenditures Incurred by the Corona Crisis

NEVEČEŘALOVÁ, Nikol. Reform of the EU's Own Revenues and Covering the Expenditures Incurred by the Corona Crisis. Financial Law Review. 2021, vol. 23, No 3, p. 115-127. ISSN 2299-6834. Available from: https://dx.doi.org/10.4467/22996834FLR.21.024.14444.

Basic information

• Original name: Reform of the EU's Own Revenues and Covering the Expenditures Incurred by the Corona Crisis
• Authors: NEVEČEŘALOVÁ, Nikol (203 Czech Republic, guarantor, belonging to the institution).
• Edition: Financial Law Review, 2021, 2299-6834.

Other information

• Original language: English
• Type of outcome: Article in a journal
• Field of Study: 50501 Law
• Country of publisher: Poland
• Confidentiality degree: is not subject to a state or trade secret
• WWW: Open access časopisu
• RIV identification code: RIV/00216224:14220/21:00122693
• Organization unit: Faculty of Law
• Doi: http://dx.doi.org/10.4467/22996834FLR.21.024.14444
• Keywords in English: European tax law; next-generation; European stability mechanism; budget
• Tags: rivok
• Tags: International impact, Reviewed

Abstract

This contribution focus on the revenue side of the EU budget, which consists of own resources, divided into traditional resources, income in the form of a share of value-added tax, and gross national income. On 21 July 2020, the European Council agreed on a multiannual financial framework for the period 2021-2027, and in response to the pandemic situation associated with Covid-19, a temporary recovery instrument for the next generation of the EU was agreed. At the same time, from which it was apparent that it is necessary to find new own resources for the EU, and how the European Stability Mechanism (ESM) could be used to the consequences of the corona crisis. The author will focus mainly on issues on the revenue side of the Union budget and the role of the ESM. Within the ongoing debates when the result was the coronavirus response the question arises of whether it would be appropriate and effective to introduce a common tax for the EU. The main aim of the contribution is to use the descriptive method, the method of analysis and synthesis the revenue side system of the EU budget, and the reform efforts that culminated in the reform of own resources. In the last part of the article, the author using a descriptive method on how the ESM was activated as one of the walls to maintain the stability of the euro area. Including the view of introducing a common European tax as a fiscal instrument to cover the expenditures (debt) incurred related to coronavirus response i.e. recovery instrument Next Generation