On the pure turnover will be imposed by the proposed (by the Commission) Annual levy to the budget of European Unionwhich will be addressed to companies, European and non -EU companies, with a net turnover (turnover) of more than EUR 100 million.
The reason for the Corporate Resource for Europe (CORE), which is provided for in Commission’s proposal for the new EU budget For the period 2028 – 2034, expected to bring revenue of approximately € 6.8 billion per year (EUR 47.6 billion on a 7 -year horizon).
The decision on the same resources must be unanimously approved by the Member States in the Council. If approved (at the end of 2027), the proposed amendments to the EU’s own resource system will be implemented from 1 January 2028, while the CORE levy will be implemented from 1 January of the first calendar year following the year in which the Council decision entered into force, according to KPMG.
It is recalled that the European Commission proposed on July 18 2025 the establishment of a New Financial Resource Source (OWN Resource), known as COREfor the funding of the next multi -year budget (2028 – 2034).
The aim of the Corporate Resource (CORE) is to ensure that the corporate sector, which operates in the world’s largest uniform market with more than 450 million consumers, will contribute to the funding of the EU budget, in accordance with the European Union’s own resource decision and the abolition of 20/20.
The same resource will focus on companies Either installed in the EU, or with permanent EU delegations, regardless of the location.
Core should be established as Annual lump sum based on the net turnover of companies falling under In the scope, with the highest net circles of work leading to larger contributions according to a “scales system”.
The use of pure turnover as a base should ensure that this resource is based on standard corporate data.
It is worth noting that for all activities (except for Nace 64, 65 and some activities of Nace 66) the net turnover consists of all revenue during the reporting period during the usual activities of the Statistical Unit and is presented without all price reductions, discounts and refunds.
Income is defined as increases in financial benefits during the reference period in the form of inputs or increases in assets or reductions of liabilities that lead to increases in equity, except for those involving contributions to the pure position.
The inputs mentioned are resulting from contracts with customers and are made through the statistical unit of the performance liabilities provided for in those contracts.
Usually, an execution obligation is represented by the sale (transfer) of goods or the provision of services, however, gross inflows may also include revenue obtained as a return from the use of others in the statistical unit assets.
The net turnover excludes:
- All taxes, duties or contributions directly linked to revenue
- All amounts collected on behalf of any client if the statistical unit acts as a dealer in its relationship with that client
- All proceeds that do not result during the usual activities of the statistical unit. Usually, these types of revenue are classified as “other operating revenue”, “financial revenue”, “extraordinary revenue” or under similar title, depending on the corresponding package of generally accepted accounting rules.
The implementation of the net turnover of EUR 100 million should ensure that, in principle, small and medium -sized enterprises are excluded from the scope of the Core. It is noted that according to the last Forbes list, In Greece there are 332 companies with a turnover of over € 100 million a year.
It is also advisable to exclude some businesses from the scope of Core, which for their particular purpose and status do not generally carry out a commercial or business for profit.
As a result, government businesses (except state -owned enterprises), international organizations and non -profit organizations should not fall within the scope of the Core. The Core should be applied to the entity or to the level of each permanent establishment located in a Member State inhabited, for tax purposes, in a third country.
Member States will assign the task of collecting the Core on behalf of the Union and in accordance with the requirements of the rules of the Union.