TAE: Hands off Wealth Tax – No harmonisation or Minimum Taxes in Europe
Taxpayers' Association of Europe TAE) appalled by EU discussion on taxation of the so-called “ultra rich” in the European Parliament.
Such discussions must be nipped in the bud, says Taxpayers of Europe's President Michael Jaeger! The taxation of income and wealth is exclusively a national responsibility and must remain so. The European taxpayers' organisation categorically rejects EU harmonisation or a minimum tax on wealth. Similarly, the EU should not interfere in matters of national social security contributions! In particular, the Taxpayers' Association warns that under no circumstances should there be any taxation of assets.
Taxing wealthy persons will have the opposite effect to that desired by the EU, i.e. it will lead to less rather than more tax revenue. A cautionary example is France, where the mere announcement of a wealth tax led to a capital outflow of €35 billion. As examples in Sweden and other countries have shown, excessive wealth or inheritance tax burdens ultimately lead to disinvestment and capital flight. This has consequences for jobs, economic substance and declining tax revenues.
The facts
On Thursday, 11 December 2025, Members of the European Parliament discussed the taxation of the so-called “hyper rich” at a hearing organised by the Subcommittee on Taxation (FISC). They discussed how an agenda could be set up to create a tax system that is fairer from the EU's point of view.
Specifically, the EU Tax Observatory proposed the idea of a minimum tax on wealth of two per cent, which would then apply to EU citizens with assets of more than 100 million.
Some experts suggested examining proposals to tax wealth. The EU Commission was asked to present a legislative proposal to harmonise tax rules.
See also:
European Parliament press release
https://www.europarl.europa.eu/news/de/press-room/20251209IPR32113/taxing-the-ultra-rich-on-the-agenda-of-tax-matters-subcommittee
European Parliamentary Research Service (EPRS)
https://acrobat.adobe.com/id/urn:aaid:sc:EU:5a68c336-763f-43ce-94ff-64f3ce567cb6
This potential tax harmonisation is not the EU's job! Neither should it discuss it, harmonise the taxation of income or wealth, or introduce higher taxes or new taxes in order to ensure the often-cited “Tax fairness”.
The Taxpayers' Association fears that an EU-wide wealth tax for the so-called “hyper rich”’ could sooner or later affect all EU citizens and businesses. In this context, we are also concerned about the introduction of the EU Asset Register to combat money laundering, tax evasion and terrorist financing. As honourable and well-intentioned as these goals are, there is a latent threat that the asset register will be extended to all assets in the EU. In view of the current discussion on the taxation of the “hyper rich”, the EU asset register appears to us in a completely different light, said Michael Jaeger.
Our great concern is that, under the guise of tax justice, the EU is now ultimately seeking to gradually gain access to EU-wide assets in order to pave the way for hoped-for additional revenue. In reality, however, this will only serve to conceal the excessive spending and debt policies of the EU and many EU member states and, to put it simply, to collect more funds in order to be able to spend more. It would be all too convenient for the countries concerned to be able to pass the buck to the EU, claiming that they are being forced by the EU to levy new or higher taxes. “Evil to him who evil thinks”.
The Taxpayers' Association of Euroe calls on the EU Parliament and the EU Commission to end this discussion immediately!
Brussels/Munich, 16 December 2025
