The Commission proposes the next generation of EU own resources
The Commission has today proposed to establish the next generation of own resources for the EU budget by putting forward three new sources of revenue: the first based on revenues from emissions trading (ETS), the second drawing on the resources generated by the proposed EU carbon border adjustment mechanism, and the third based on the share of residual profits from multinationals that will be re-allocated to EU Member States under the recent OECD/G20 agreement on a re-allocation of taxing rights ("Pillar One"). At cruising speed, in the years 2026-2030, these new sources of revenue are expected to generate on average a total of up to €17 billion annually for the EU budget.
The new own resources proposed today will help to repay the funds raised by the EU to finance the grant component of NextGenerationEU. The new own resources should also finance the Social Climate Fund. The latter is an essential element of the proposed new Emissions Trading System covering buildings and road transport, and will contribute to ensuring that the transition to a decarbonised economy will leave no one behind.
Johannes Hahn, Commissioner in charge of Budget and Administration, said: "With today's package, we lay the foundations for the repayment of NextGenerationEU and provide essential support to the Fit for 55 package by putting in place the financing of the Social Climate Fund. With the set of new own resources, we, therefore, ensure that the next generation will truly benefit from NextGenerationEU."
Today's proposal builds on the Commission's commitment undertaken as part of the political agreement on the 2021-2027 long-term budget and the NextGenerationEU recovery instrument. Once adopted, this package will strengthen the reform of the revenue system started in 2020 with the inclusion of the non-recycled plastic waste-based own resources.
Flood Relief Collaboration with The Hope Branch
EUROCHAM Malaysia is collaborating with The Hope Branch to lend a helping hand to those affected by the recent floods. It has been a truly challenging time for many and we are truly heartbroken to see so many Malaysians in dire straits.
Let us come together to help those in need during these trying times. Listed above are the essential items that are needed and can be donated to The Hope Branch for distribution.
Welcome Werner's Group to EUROCHAM Malaysia
We would like to welcome Werner's Group to EUROCHAM Malaysia! We are excited to have you as part of the EUROCHAM community, as we will work together to strive and bolster alliances within the EU-MY business ecosystem.
Since its official inception as an organisation in 2013, the Werner's Group was formed to manage all entities under the same roof. The group has grown from strength to strength, from its first concept restaurant in 2005 to its eighth in the year 2018. El Cerdo KL, The Whisky Bar KL, The Steakhouse KL, Dining In The Dark KL, Opium KL, Kill Devil KL and Cielo KL were conceptualised and wholly owned by Werner Kuhn, German expatriate and Master Chef residing in Malaysia for the past 30 years.
Ministry of Health Malaysia – Home Quarantine Application
Ministry of Health Malaysia has issued a guideline on how to apply for the Home Quarantine after returning to Malaysia. Above are the guidelines for the Home Quarantine application, please refer to the above to apply for your Home Quarantine.
Slovenia Independence Day
We would like to wish all our Members and Friends from Slovenia a Happy Independence Day and Unity Day! Dan samostojnosti in enotnosti