EU assesses crypto taxation plan, potentially contributing €28 billion in revenue over seven-year budget cycle

Odaily Odaily reports that the European Commission is evaluating a unified tax proposal targeting crypto enterprises, the online gambling industry, and large digital platforms to generate new fiscal revenue for the EU budget from 2028 to 2034. Under the plan, a 0.1% tax on crypto transactions is expected to bring in approximately €3 billion to €4 billion annually for the EU budget, while a crypto capital gains tax could contribute between €1 billion and €2.4 billion per year.

Commission estimates indicate that these two crypto-related taxes could together generate around €28 billion in revenue over the seven-year budget cycle. In addition, a 3% tax on large digital companies is projected to yield €5 billion annually, while an online gambling tax could bring in €1.9 billion per year. The proposals still face opposition from member states, and their final implementation remains uncertain. (POLITICO)