Tebbit, who worked in Margaret Thatcher's cabinet and as president of the Conservative Party in the 1980s, believes that Brussels wants to administer a "beating" to the United Kingdom as it prepares to leave the single bloc.
EU documents leaked suggest that the EU could try to impose fiscal policies of Brussels in the United Kingdom after Brexit.
And Mr. Tebbit is convinced that the EU wants to scare the other 27 member states so that they do not leave the bloc.
The big Tory feared to have been too optimistic about the future after the Brexit of Great Britain after the "shocking" leaked documents suggested that Brussels wants a veto on Britain's future fiscal policies.
Writing in the Daily Telegraph, Mr. Tebbit said: "I certainly realized that the Euro Mafia in Brussels would try to give the United Kingdom a beating to discourage any of the other 27 member states from thinking about making their own offer of escape.
"In essence, it seems that the goal is to ensure that the UK does not gain a competitive advantage by becoming a low-tax Singapore-style economy.
"Until now, as a member state, the United Kingdom has had a veto over changes in fiscal policy.
"But if Brussels has its way, it would be Brussels who would have a veto on our fiscal policies even after Brexit."
The leaked documents were written by the TAX3 secretariat of the European Parliament after a meeting with the EU negotiating team, led by Michel Barnier, the Brexit Working Group.
The document says: "The objective is for the United Kingdom to comply with the tools adopted at the EU level to combat tax evasion / avoidance.
"According to the Commission, it is not feasible that the political declaration does not include fiscal provisions."
It is feared that the measure will also affect the ability of Britain's overseas territories to establish their own tax systems.
Mr. Tebbit accused Remainers of ignorance about fiscal concerns.
He added: "I wonder if our Remain are aware of the Boston Tea Party.
"That was exactly the problem when the United Kingdom exercised power over tax rates in the United States, which led to the breakdown of our American colonies to become the United States of America.
"The purpose of Brexit is to recover our right to make our own tax laws within international law, in the best interest of our people."